T. Rowe Price Group, Inc. $TROW Position Increased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,125 shares of the asset manager’s stock after buying an additional 6,417 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.16% of T. Rowe Price Group worth $35,218,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. boosted its stake in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the period. Vermillion & White Wealth Management Group LLC raised its stake in T. Rowe Price Group by 120.0% during the 2nd 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 period. Salomon & Ludwin LLC lifted its holdings in shares of T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 145 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of T. Rowe Price Group in the second quarter worth $35,000. Finally, 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 valued at $40,000 after buying an additional 414 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $106.00 on Thursday. The firm has a market cap of $23.13 billion, a PE ratio of 11.55, a PEG ratio of 2.76 and a beta of 1.52. The firm’s 50 day moving average price is $103.06 and its 200 day moving average price is $103.82. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.34%.

Analyst Upgrades and Downgrades

TROW has been the subject of several research analyst reports. Jefferies Financial Group increased their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Evercore ISI reduced their price target on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a research report on Friday, December 5th. Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research note on Monday, November 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a research note on Tuesday, December 16th. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $108.31.

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.