Cwm LLC Acquires 6,873 Shares of T. Rowe Price Group, Inc. $TROW

Cwm LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,761 shares of the asset manager’s stock after acquiring an additional 6,873 shares during the quarter. Cwm LLC owned approximately 0.08% of T. Rowe Price Group worth $17,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. TD Waterhouse Canada Inc. grew its stake in shares of T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its position in T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of T. Rowe Price Group during the second quarter valued at about $35,000. Curio Wealth LLC grew its holdings in shares of T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after purchasing an additional 414 shares during the last quarter. Finally, Cromwell Holdings LLC increased its stake in shares of T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after buying an additional 418 shares during the period. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TROW shares. TD Cowen lifted their price target on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a research report on Tuesday, November 25th. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research note on Monday, November 3rd. Twelve research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $108.31.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $104.75 on Friday. The stock has a market capitalization of $22.86 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.53. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.32. The stock has a 50 day moving average price of $102.89 and a two-hundred day moving average price of $103.15.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.