Cromwell Holdings LLC Buys 418 Shares of T. Rowe Price Group, Inc. $TROW

Cromwell Holdings LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3,483.3% during the second quarter, Holdings Channel.com reports. The firm owned 430 shares of the asset manager’s stock after buying an additional 418 shares during the period. Cromwell Holdings LLC’s holdings in T. Rowe Price Group were worth $41,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new position in shares of T. Rowe Price Group in the first quarter worth $27,000. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in shares of T. Rowe Price Group during the first quarter valued at about $39,000. Chilton Capital Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $41,000. Finally, Wayfinding Financial LLC bought a new stake in shares of T. Rowe Price Group in the first quarter worth about $43,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $103.28 on Friday. The company has a market capitalization of $22.69 billion, a PE ratio of 11.54, a PEG ratio of 2.62 and a beta of 1.50. The business has a fifty day moving average price of $105.71 and a 200-day moving average price of $98.06. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is 56.76%.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley upped their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, August 4th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Evercore ISI reiterated a “positive” rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Finally, BMO Capital Markets began coverage on shares of T. Rowe Price Group in a report on Friday. They issued a “market perform” rating and a $108.00 price objective for the company. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus price target of $104.08.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.