Tempus Wealth Planning LLC Purchases 11,250 Shares of T. Rowe Price Group, Inc. $TROW

Tempus Wealth Planning LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,250 shares of the asset manager’s stock, valued at approximately $1,171,000.

Several other large investors also recently added to or reduced their stakes in TROW. Twin Tree Management LP purchased a new position in shares of T. Rowe Price Group during the second quarter worth about $2,989,000. Envestnet Portfolio Solutions Inc. raised its stake in T. Rowe Price Group by 6.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 174,047 shares of the asset manager’s stock valued at $19,787,000 after purchasing an additional 10,077 shares in the last quarter. BlackRock Inc. purchased a new stake in T. Rowe Price Group in the second quarter valued at approximately $2,728,119,000. Louisiana State Employees Retirement System bought a new stake in T. Rowe Price Group during the first quarter valued at approximately $1,001,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in T. Rowe Price Group by 15.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 245,033 shares of the asset manager’s stock valued at $27,858,000 after purchasing an additional 32,372 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Key Headlines Impacting T. Rowe Price Group

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

• Positive Sentiment: T. Rowe Price is expanding its field-sales coverage and strengthening its wealth-leadership and product-specialist teams. The move could improve distribution, advisor relationships and asset-gathering prospects, although the company did not provide a specific financial outlook tied to the changes. T. Rowe Price Expands Field Sales Coverage And Wealth Leadership And Product Specialist Teams
• Neutral Sentiment: Analyst commentary remains broadly neutral on T. Rowe Price among major financial stocks, suggesting limited near-term catalysts despite the company’s relatively low valuation. Analysts Are Neutral on Top Financial Stocks: T Rowe Price (TROW), GooseHead Insurance (GSHD)
• Negative Sentiment: Barclays lowered its price target to $102 from $103 and retained an Underweight rating. Although the target implies modest upside from the reference price, the rating signals that Barclays sees better opportunities elsewhere.
• Negative Sentiment: JPMorgan reduced its target to $106 from $107 and also maintained an Underweight rating, reinforcing concerns about T. Rowe Price’s growth or near-term earnings prospects.
• Negative Sentiment: BMO Capital Markets cut its target substantially to $110 from $120 and assigned a Market Perform rating. The downgrade indicates reduced confidence in potential outperformance.

Insider Activity at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TROW. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $107.00 to $106.00 and set an “underweight” rating for the company in a research note on Tuesday. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $110.00 to $109.00 and set a “hold” rating for the company in a report on Monday. The Goldman Sachs Group upped their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $104.08.

T. Rowe Price Group Stock Performance

TROW traded down $1.77 during midday trading on Wednesday, hitting $99.62. The stock had a trading volume of 2,371,910 shares, compared to its average volume of 2,066,978. The company has a market cap of $21.25 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 4.50 and a beta of 1.45. The business has a fifty day moving average of $107.78 and a 200 day moving average of $106.62. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $2.24 earnings per share. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.