Fulcrum Asset Management LLP Purchases 16,564 Shares of T. Rowe Price Group, Inc. $TROW

Fulcrum Asset Management LLP boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 71.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 39,834 shares of the asset manager’s stock after acquiring an additional 16,564 shares during the quarter. Fulcrum Asset Management LLP’s holdings in T. Rowe Price Group were worth $4,163,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in shares of T. Rowe Price Group during the second quarter worth about $2,989,000. Envestnet Portfolio Solutions Inc. boosted its position 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 buying an additional 10,077 shares during 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. Sanctuary Advisors LLC acquired a new position in T. Rowe Price Group in the 2nd quarter worth approximately $1,668,000. Finally, Sequoia Financial Advisors LLC increased its holdings in T. Rowe Price Group by 90.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,284 shares of the asset manager’s stock worth $1,965,000 after buying an additional 8,230 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of several research reports. UBS Group started coverage on shares of T. Rowe Price Group in a research note on Wednesday, October 7th. They set a “neutral” rating and a $107.00 price objective for the company. Evercore set a $109.00 price objective on shares of T. Rowe Price Group in a report on Friday, October 9th. TD Cowen cut their price objective on shares of T. Rowe Price Group from $109.00 to $96.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One 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, T. Rowe Price Group currently has an average rating of “Reduce” and an average price target of $102.83.

T. Rowe Price Group Stock Up 2.2%

T. Rowe Price Group stock opened at $110.82 on Tuesday. The firm has a market cap of $23.64 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 4.31 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The business’s 50-day moving average price is $105.25 and its 200 day moving average price is $103.80.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results 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 20.63% and a net margin of 28.40%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the business earned $2.81 earnings per share. T. Rowe Price Group’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts expect that T. Rowe Price Group, Inc. will post 10.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Wednesday, December 16th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.58%.

Insider Activity at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 71,328 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Company Profile

T. Rowe Price Group is a global investment management firm that provides investment products and related services to individuals, retirement plans, institutions and financial intermediaries. Founded in 1937 by Thomas Rowe Price Jr., the company is headquartered in Baltimore, Maryland.

The firm manages a range of investment strategies, including equity, fixed-income and multi-asset portfolios. Its offerings include mutual funds, exchange-traded funds and separately managed accounts, as well as retirement-focused products and advisory services.

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