T. Rowe Price Group, Inc. $TROW Stake Boosted by Howard Capital Management LLC

Howard Capital Management LLC boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 220.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,528 shares of the asset manager’s stock after buying an additional 39,598 shares during the quarter. Howard Capital Management LLC’s holdings in T. Rowe Price Group were worth $5,986,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Sherman Wealth Management LLC bought a new stake in T. Rowe Price Group in the third quarter valued at approximately $961,000. Walser Wealth Management Company A Ltd Liability Co boosted its stake in shares of T. Rowe Price Group by 19.1% during the 3rd quarter. Walser Wealth Management Company A Ltd Liability Co now owns 11,316 shares of the asset manager’s stock worth $1,177,000 after acquiring an additional 1,814 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of T. Rowe Price Group by 5.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 11,015 shares of the asset manager’s stock worth $1,146,000 after acquiring an additional 520 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of T. Rowe Price Group by 60.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 150,810 shares of the asset manager’s stock worth $15,692,000 after acquiring an additional 56,831 shares during the period. Finally, Brindle & Bay Financial Advisors LLC increased its holdings in shares of T. Rowe Price Group by 32.0% during the 3rd quarter. Brindle & Bay Financial Advisors LLC now owns 12,210 shares of the asset manager’s stock worth $1,270,000 after acquiring an additional 2,962 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of research analyst reports. Barclays dropped their price target on T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating on the stock in a research note on Wednesday. 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. Morgan Stanley dropped 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. 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. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $104.08.

T. Rowe Price Group Stock Down 0.4%

Shares of TROW traded down $0.40 during midday trading on Friday, reaching $100.97. 2,609,861 shares of the stock were exchanged, compared to its average volume of 1,870,238. The stock’s 50 day simple moving average is $107.27 and its 200 day simple moving average is $106.67. The company has a market cap of $21.54 billion, a P/E ratio of 10.13, a PEG ratio of 4.41 and a beta of 1.45. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. The business 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%. T. Rowe Price Group’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.24 earnings per share. As a group, analysts predict that T. Rowe Price Group, Inc. will post 10.09 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Tuesday, September 15th. T. Rowe Price Group’s payout ratio is 52.16%.

Insider Activity

In related news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the sale, the vice president owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

About T. Rowe Price Group

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.