16,564 T. Rowe Price Group, Inc. $TROW Shares Acquired by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its T. Rowe Price stake by 71.2%, buying 16,564 shares in the third quarter and ending with 39,834 shares valued at about $4.16 million.
• T. Rowe Price beat quarterly earnings expectations, reporting $2.86 per share versus the $2.63 consensus; revenue rose 5.9% year over year to $2 billion.
• Analyst sentiment is cautious: the stock has an average “Reduce” rating and $102.83 average price target. The company announced a $1.30 quarterly dividend, equivalent to a 4.7% annualized yield.

Fulcrum Asset Management LLP lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 71.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,834 shares of the asset manager's stock after purchasing an additional 16,564 shares during the period. Fulcrum Asset Management LLP's holdings in T. Rowe Price Group were worth $4,163,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TROW. Twin Tree Management LP purchased a new position in T. Rowe Price Group during the second quarter valued at $2,989,000. Envestnet Portfolio Solutions Inc. boosted its stake in T. Rowe Price Group by 6.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 174,047 shares of the asset manager's stock worth $19,787,000 after acquiring an additional 10,077 shares in the last quarter. BlackRock Inc. bought a new stake in T. Rowe Price Group during the second quarter worth about $2,728,119,000. Sanctuary Advisors LLC bought a new position in T. Rowe Price Group during the 2nd quarter valued at approximately $1,668,000. Finally, Sequoia Financial Advisors LLC raised its stake in T. Rowe Price Group by 90.9% during the second quarter. Sequoia Financial Advisors LLC now owns 17,284 shares of the asset manager's stock valued at $1,965,000 after buying an additional 8,230 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TROW. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Friday, October 23rd. Barclays reduced their price objective on shares of T. Rowe Price Group from $103.00 to $102.00 and set an "underweight" rating for the company in a research note on Wednesday, October 14th. Weiss Ratings upgraded shares of T. Rowe Price Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. TD Cowen lowered their price objective on T. Rowe Price Group from $109.00 to $96.00 and set a "hold" rating on the stock in a research report on Friday, October 30th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 target price (up from $112.00) on shares of T. Rowe Price Group in a research note on Friday, October 30th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $102.83.

Insider Activity at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the business's stock in a transaction that occurred on 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 transaction, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Up 2.2%

Shares of TROW stock opened at $110.82 on Tuesday. The company's fifty day simple moving average is $105.25 and its two-hundred day simple moving average is $103.80. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The stock has a market cap of $23.64 billion, a P/E ratio of 10.83, a PEG ratio of 4.31 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.23. T. Rowe Price Group had a net margin of 28.40% and a return on equity of 20.63%. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the prior year, the company earned $2.81 EPS. The business's revenue was up 5.9% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 10.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Wednesday, December 16th will be issued a $1.30 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group's payout ratio is currently 52.58%.

T. Rowe Price Group Profile

T. Rowe Price Group is a global investment management firm that provides investment products and related services to individuals, retirement plans, institutions and financial intermediaries. Founded in 1937 by Thomas Rowe Price Jr., the company is headquartered in Baltimore, Maryland.

The firm manages a range of investment strategies, including equity, fixed-income and multi-asset portfolios. Its offerings include mutual funds, exchange-traded funds and separately managed accounts, as well as retirement-focused products and advisory services.

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