Corient Private Wealth LLC Acquires 9,174 Shares of T. Rowe Price Group, Inc. $TROW

Corient Private Wealth LLC raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 43,207 shares of the asset manager’s stock after purchasing an additional 9,174 shares during the period. Corient Private Wealth LLC’s holdings in T. Rowe Price Group were worth $4,436,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TROW. TD Private Client Wealth LLC grew its holdings in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after buying an additional 238 shares in the last quarter. Canton Hathaway LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter worth $31,000. Sound Income Strategies LLC lifted its stake in shares of T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. Finally, DV Equities LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $32,000. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Jefferies Financial Group cut their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average price target of $100.38.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $110.27 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22. The stock has a market capitalization of $23.63 billion, a P/E ratio of 11.82, a P/E/G ratio of 5.47 and a beta of 1.50. The company has a 50-day moving average price of $103.94 and a 200-day moving average price of $99.95.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.23 EPS. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.58 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s payout ratio is presently 55.73%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.