Inceptionr LLC Takes Position in T. Rowe Price Group, Inc. $TROW

Inceptionr LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 8,279 shares of the asset manager’s stock, valued at approximately $799,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. lifted its position in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at about $27,000. Atlantic Union Bankshares Corp bought a new stake in T. Rowe Price Group during the second quarter worth about $35,000. Curio Wealth LLC raised its holdings in T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after acquiring an additional 414 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its position in T. Rowe Price Group by 3,483.3% during the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TROW. Jefferies Financial Group boosted their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. TD Cowen boosted their target price on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have assigned 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 $109.00.

T. Rowe Price Group Trading Up 0.9%

TROW opened at $102.09 on Thursday. The stock’s fifty day simple moving average is $102.98 and its 200 day simple moving average is $101.78. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The stock has a market cap of $22.28 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 earnings per share. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

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.