Drucker Wealth 3.0 LLC Grows Stock Position in T. Rowe Price Group, Inc. $TROW

Drucker Wealth 3.0 LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 113.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,392 shares of the asset manager’s stock after buying an additional 7,655 shares during the period. Drucker Wealth 3.0 LLC’s holdings in T. Rowe Price Group were worth $1,477,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. boosted its stake in T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of 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 worth $31,000 after purchasing an additional 174 shares in the last quarter. Salomon & Ludwin LLC grew its position in T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after buying an additional 145 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group 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 transaction, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TROW. Bank of America raised their price target on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating for the company in a research note on Thursday, February 5th. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. Keefe, Bruyette & Woods dropped their price objective on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a report on Thursday, February 5th. Finally, Barclays set a $94.00 price target on T. Rowe Price Group in a research note on Thursday, February 5th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $102.23.

T. Rowe Price Group Stock Up 0.1%

TROW stock opened at $93.81 on Wednesday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.22. The company has a market capitalization of $20.47 billion, a P/E ratio of 10.14, a PEG ratio of 4.84 and a beta of 1.53. The company has a 50-day simple moving average of $102.96 and a 200 day simple moving average of $103.91.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a return on equity of 20.36% and a net margin of 28.53%.T. Rowe Price Group’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.12 EPS. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.5%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.92%.

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.