Traub Capital Management LLC Purchases Shares of 2,690 T. Rowe Price Group, Inc. $TROW

Traub Capital Management LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to its most recent filing with the SEC. The firm acquired 2,690 shares of the asset manager’s stock, valued at approximately $260,000.

Several other hedge funds have also recently made changes to their positions in the business. Invesco Ltd. lifted its position in shares of T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after purchasing an additional 519,075 shares during the period. ARGA Investment Management LP raised its holdings in T. Rowe Price Group by 3,807.3% in the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after purchasing an additional 464,949 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in T. Rowe Price Group during the second quarter valued at $37,722,000. Finally, ProShare Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 21.7% during the 2nd quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock valued at $182,186,000 after buying an additional 337,112 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.1%

Shares of TROW stock opened at $97.48 on Wednesday. The company has a 50 day moving average price of $103.62 and a 200-day moving average price of $101.51. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The firm has a market capitalization of $21.27 billion, a PE ratio of 10.89, a P/E/G ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.2%. T. Rowe Price Group’s dividend payout ratio is currently 55.34%.

Analysts Set New Price Targets

Several research analysts recently issued reports on TROW shares. Jefferies Financial Group increased their price target on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. TD Cowen raised their target price on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $93.00 to $98.00 in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price target on T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and a consensus target price of $109.38.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was 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. The trade was a 6.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

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.