New England Research & Management Inc. Acquires New Holdings in T. Rowe Price Group, Inc. $TROW

New England Research & Management Inc. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,895 shares of the asset manager’s stock, valued at approximately $1,238,000.

Other large investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. increased its holdings in T. Rowe Price Group by 180.1% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 874 shares of the asset manager’s stock worth $93,000 after acquiring an additional 562 shares in the last quarter. Howard Capital Management LLC lifted its holdings in T. Rowe Price Group by 220.8% during the third quarter. Howard Capital Management LLC now owns 57,528 shares of the asset manager’s stock valued at $5,986,000 after purchasing an additional 39,598 shares in the last quarter. Sherman Wealth Management LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $961,000. Walser Wealth Management Company A Ltd Liability Co grew its position in shares of T. Rowe Price Group by 19.1% in the third quarter. Walser Wealth Management Company A Ltd Liability Co now owns 11,316 shares of the asset manager’s stock valued at $1,177,000 after purchasing an additional 1,814 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in shares of T. Rowe Price Group by 5.0% during the third quarter. V Square Quantitative Management LLC now owns 11,015 shares of the asset manager’s stock worth $1,146,000 after purchasing an additional 520 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Evercore set a $109.00 price target on shares of T. Rowe Price Group in a research report on Friday, October 9th. Morgan Stanley lowered 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. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. BMO Capital Markets cut their price objective on T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating for the company in a research note on Tuesday. Finally, Barclays reduced their target price on T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating for the company in a report on Wednesday. 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. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $104.08.

Insider Transactions at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Down 0.4%

TROW traded down $0.40 on Friday, hitting $100.97. 2,609,861 shares of the company’s stock were exchanged, compared to its average volume of 1,870,238. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The firm has a 50-day moving average price of $107.27 and a 200-day moving average price of $106.67. The stock has a market cap of $21.54 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 4.41 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last released 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. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.24 earnings per share. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 10.09 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 5.2%. T. Rowe Price Group’s payout ratio is presently 52.16%.

T. Rowe Price Group 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.