Retireful LLC Makes New Investment in T. Rowe Price Group, Inc. $TROW

Retireful LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,957 shares of the asset manager’s stock, valued at approximately $714,000.

Other institutional investors also recently modified their holdings of the company. SRH Advisors LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at about $108,000. KW Wealth Management LLC acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at approximately $210,000. BankPlus Trust Department grew its holdings in shares of T. Rowe Price Group by 7,333.3% during the 3rd quarter. BankPlus Trust Department now owns 2,899 shares of the asset manager’s stock valued at $298,000 after purchasing an additional 2,860 shares during the last quarter. Bard Financial Services Inc. increased its position in T. Rowe Price Group by 67.7% during the 3rd quarter. Bard Financial Services Inc. now owns 6,750 shares of the asset manager’s stock worth $693,000 after purchasing an additional 2,725 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in T. Rowe Price Group by 8.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 10,968 shares of the asset manager’s stock valued at $1,126,000 after purchasing an additional 885 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TROW. 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 on the stock in a research note on Tuesday, December 16th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Morgan Stanley increased their target price on T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. TD Cowen boosted their price target on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Finally, Jefferies Financial Group upped their price objective on 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. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Reduce” and a consensus target price of $108.31.

Insiders Place Their Bets

In other 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 completion of the transaction, the vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $104.75 on Monday. The firm has a market cap of $22.86 billion, a P/E ratio of 11.41, a P/E/G ratio of 2.83 and a beta of 1.53. The stock’s 50 day moving average is $102.89 and its 200 day moving average is $103.21. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business earned $2.57 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Equities 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 company 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 4.8%. T. Rowe Price Group’s dividend payout ratio is 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.