Vanguard Group Inc. Raises Stock Position in T. Rowe Price Group, Inc. $TROW

Vanguard Group Inc. boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 26,416,718 shares of the asset manager’s stock after buying an additional 130,325 shares during the period. Vanguard Group Inc. owned 0.12% of T. Rowe Price Group worth $2,549,213,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TROW. Zions Bancorporation National Association UT purchased a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $27,000. Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group during the second quarter worth about $35,000. Curio Wealth LLC raised its position in 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 acquiring an additional 414 shares during the last quarter. Cromwell Holdings LLC lifted its holdings 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 purchasing an additional 418 shares in the last quarter. Finally, Bogart Wealth LLC grew its position in shares of T. Rowe Price Group by 1,787.5% in the second quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 429 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Down 0.1%

TROW stock opened at $97.31 on Friday. The company has a market cap of $21.24 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 5.61 and a beta of 1.51. The business has a fifty day simple moving average of $103.26 and a 200-day simple moving average of $101.45. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.57 earnings per share. As a group, analysts expect 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 will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Analysts Set New Price Targets

TROW has been the topic of a number of recent research reports. Morgan Stanley upped their target price on T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. TD Cowen upped their price objective on T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. Jefferies Financial Group boosted their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Finally, Citigroup lifted their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $109.38.

T. Rowe Price Group Company 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.