MTM Investment Management LLC Grows Holdings in T. Rowe Price Group, Inc. $TROW

MTM Investment Management LLC raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,294 shares of the asset manager’s stock after acquiring an additional 584 shares during the quarter. MTM Investment Management LLC’s holdings in T. Rowe Price Group were worth $318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its stake in T. Rowe Price Group by 14.6% in the first quarter. SBI Securities Co. Ltd. now owns 1,250 shares of the asset manager’s stock worth $115,000 after acquiring an additional 159 shares during the period. Larson Financial Group LLC lifted its position in shares of T. Rowe Price Group by 65.2% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the asset manager’s stock worth $66,000 after purchasing an additional 283 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of T. Rowe Price Group by 4.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,144 shares of the asset manager’s stock valued at $1,575,000 after purchasing an additional 677 shares in the last quarter. Windle Wealth LLC increased its holdings in T. Rowe Price Group by 4.7% during the first quarter. Windle Wealth LLC now owns 64,792 shares of the asset manager’s stock valued at $5,952,000 after buying an additional 2,932 shares during the period. Finally, Kennondale Capital Management LLC raised its stake in T. Rowe Price Group by 46.0% in the first quarter. Kennondale Capital Management LLC now owns 27,039 shares of the asset manager’s stock worth $2,484,000 after buying an additional 8,519 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $101.72 on Friday. The company has a market cap of $22.20 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 5.61 and a beta of 1.51. The stock’s fifty day moving average price is $104.02 and its 200 day moving average price is $101.31. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the business earned $2.57 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TROW. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a report on Monday, November 3rd. BMO Capital Markets began coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 target price on the stock. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $109.38.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.