T. Rowe Price Group, Inc. $TROW Stock Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 34.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,425 shares of the asset manager’s stock after purchasing an additional 5,271 shares during the quarter. Park Avenue Securities LLC’s holdings in T. Rowe Price Group were worth $2,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Wealthcare Capital Partners LLC boosted its stake in T. Rowe Price Group by 1.0% during the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after buying an additional 93 shares during the last quarter. Kesler Norman & Wride LLC increased its stake in T. Rowe Price Group by 0.6% in the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after acquiring an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of T. Rowe Price Group by 9.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after acquiring an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after acquiring an additional 100 shares in the last quarter. Finally, Concorde Asset Management LLC boosted its position in shares of T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $106.00 to $107.00 and gave the company an “underweight” rating in a report on Friday. Barclays decreased their price target on shares of T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 14th. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. UBS Group started coverage on shares of T. Rowe Price Group in a research note on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 price objective for the company. Finally, Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $103.15.

T. Rowe Price Group Trading Down 2.6%

TROW stock opened at $103.90 on Friday. The stock has a market cap of $22.16 billion, a PE ratio of 10.51, a P/E/G ratio of 3.04 and a beta of 1.45. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The company has a 50-day moving average price of $105.65 and a 200 day moving average price of $103.70.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.23. T. Rowe Price Group had a return on equity of 20.71% and a net margin of 28.40%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the company posted $2.81 earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.16 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date was Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.58%.

Key T. Rowe Price Group News

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: Third-quarter adjusted earnings of $2.86 per share exceeded the $2.63 consensus estimate, while revenue reached approximately $2.0 billion versus expectations of $1.98 billion. Revenue increased 5.9% year over year, supported by higher advisory fees. T. Rowe Price Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Keefe, Bruyette & Woods reaffirmed its “market perform” rating but raised its price target to $113 from $112, implying approximately 8.8% potential upside based on the referenced price. Keefe, Bruyette & Woods Ratings
• Neutral Sentiment: T. Rowe Price is expanding its wealth-management operation with more than 50 new roles. The initiative could diversify growth and strengthen distribution over time, although added staffing costs may weigh on near-term efficiency. T. Rowe Price Adds Over 50 Wealth Management Roles
• Negative Sentiment: The earnings beat was offset by substantial client outflows and a decline in AUM during the quarter. Persistent redemptions are a key concern for an asset manager because they reduce fee-generating assets and could limit future revenue growth. T. Rowe Price Q3 Earnings, Revenue Beat Even as AUM Dips

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.