Greenspring Advisors LLC Makes New $1.58 Million Investment in T. Rowe Price Group, Inc. $TROW

Greenspring Advisors LLC purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,426 shares of the asset manager’s stock, valued at approximately $1,583,000. T. Rowe Price Group comprises about 0.3% of Greenspring Advisors LLC’s portfolio, making the stock its 29th biggest holding.

Other large investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. increased its position in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in shares of T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of T. Rowe Price Group during the second quarter worth about $35,000. Finally, Curio Wealth LLC raised its position in shares of T. Rowe Price Group by 20,700.0% in the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after buying an additional 414 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 2.2%

TROW stock opened at $104.63 on Monday. The company has a market cap of $22.83 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 2.65 and a beta of 1.52. The stock has a 50-day moving average price of $102.90 and a two-hundred day moving average price of $103.59. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $2.57 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on TROW. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. BMO Capital Markets initiated coverage on T. Rowe Price Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price objective for the company. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft lowered their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a report on Wednesday, December 17th. Finally, Evercore ISI dropped their price objective on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a research note on Friday, December 5th. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $108.31.

About T. Rowe Price Group

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.