9,234 Shares of T. Rowe Price Group, Inc. $TROW Purchased by Sherman Wealth Management LLC

Sherman Wealth Management LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, Holdings Channel reports. The institutional investor bought 9,234 shares of the asset manager’s stock, valued at approximately $961,000.

Other hedge funds have also recently modified their holdings of the company. Walser Wealth Management Company A Ltd Liability Co boosted its holdings in T. Rowe Price Group by 19.1% in 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 buying an additional 1,814 shares during the last quarter. V Square Quantitative Management LLC increased its stake in 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 buying an additional 520 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of T. Rowe Price Group by 60.5% during the third quarter. Assenagon Asset Management S.A. now owns 150,810 shares of the asset manager’s stock valued at $15,692,000 after acquiring an additional 56,831 shares during the last quarter. Brindle & Bay Financial Advisors LLC raised its holdings in shares of T. Rowe Price Group by 32.0% during the third quarter. Brindle & Bay Financial Advisors LLC now owns 12,210 shares of the asset manager’s stock valued at $1,270,000 after acquiring an additional 2,962 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. raised its holdings in shares of T. Rowe Price Group by 5.6% during the third quarter. Retirement Planning Co of New England Inc. now owns 7,582 shares of the asset manager’s stock valued at $789,000 after acquiring an additional 404 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of research analyst reports. TD Cowen lowered their price target on T. Rowe Price Group from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Morgan Stanley decreased their price objective on T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Keefe, Bruyette & Woods reaffirmed 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. Finally, Barclays dropped their target price on shares of T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $104.08.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $101.37 on Friday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The stock has a market cap of $21.62 billion, a PE ratio of 9.63, a P/E/G ratio of 4.33 and a beta of 1.45. The stock has a 50 day moving average price of $107.53 and a 200 day moving average price of $106.71.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company earned $2.24 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group, Inc. will post 10.10 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed 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 5.1%. The ex-dividend date was Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.

T. Rowe Price Group News Roundup

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

• Positive Sentiment: T. Rowe Price’s latest reported quarter showed solid operating momentum, with earnings and revenue exceeding analyst expectations and revenue rising year over year. That performance may be supporting investor confidence ahead of the next results. T. Rowe Price Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: The company is expanding field-sales coverage and strengthening its wealth-leadership and product-specialist teams. The moves could improve distribution and support asset gathering over time. T. Rowe Price Expands Sales and Wealth Teams
• Neutral Sentiment: Multiple earnings previews indicate that the upcoming report is the main near-term catalyst. Investors will likely focus on earnings, revenue, net flows, fee trends and management’s outlook. T. Rowe Price Earnings Preview: What to Expect
• Neutral Sentiment: Analysts were described as neutral on T. Rowe Price among selected financial stocks, suggesting limited consensus about the shares’ next direction. Analysts Are Neutral on Top Financial Stocks
• Negative Sentiment: Barclays lowered its price target from $103 to $102 and kept an “underweight” rating, implying limited upside from the referenced share price. BMO Capital Markets Cuts T. Rowe Price Price Target
• Negative Sentiment: JPMorgan issued a pessimistic forecast, adding to concerns about valuation, asset flows or the broader outlook for active asset managers. JPMorgan Issues Pessimistic Forecast for T. Rowe Price

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction dated 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 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 through the SEC website. 1.60% of the stock is owned by company insiders.

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.