19,028 Shares of T. Rowe Price Group, Inc. $TROW Purchased by Associated Banc Corp

Key Points

• Associated Banc Corp bought 19,028 T. Rowe Price shares in the third quarter, valued at approximately $1.98 million; institutional investors collectively own 73.39% of the stock.
• T. Rowe Price reported quarterly earnings of $2.86 per share, beating the $2.63 consensus, while revenue rose 5.9% year over year to $2 billion.
• The company declared a $1.30 quarterly dividend, equal to a 4.6% annualized yield. Analysts’ average rating was “Reduce,” with a consensus price target of $102.83.

Associated Banc Corp bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,028 shares of the asset manager's stock, valued at approximately $1,980,000.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in T. Rowe Price Group during the third quarter valued at $28,962,000. Profund Advisors LLC raised its stake in T. Rowe Price Group by 10.6% during the 3rd quarter. Profund Advisors LLC now owns 1,987 shares of the asset manager's stock worth $207,000 after acquiring an additional 190 shares during the period. Cidel Asset Management Inc. lifted its stake in shares of T. Rowe Price Group by 4.5% during the 3rd quarter. Cidel Asset Management Inc. now owns 4,066 shares of the asset manager's stock valued at $423,000 after buying an additional 174 shares in the last quarter. Unison Advisors LLC boosted its stake in shares of T. Rowe Price Group by 1.1% in the third quarter. Unison Advisors LLC now owns 18,639 shares of the asset manager's stock worth $1,939,000 after acquiring an additional 201 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in T. Rowe Price Group by 250.8% in the 3rd quarter. International Assets Investment Management LLC now owns 25,000 shares of the asset manager's stock worth $2,601,000 after purchasing an additional 17,873 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Up 6.0%

TROW opened at $112.57 on Thursday. The stock's fifty day moving average is $105.41 and its two-hundred day moving average is $103.74. The company has a market capitalization of $24.01 billion, a P/E ratio of 10.22, a PEG ratio of 4.07 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.86 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.23. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. T. Rowe Price Group had a net margin of 28.40% and a return on equity of 20.63%. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.81 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.29 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 29th. Investors of record on Wednesday, December 16th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, December 16th. T. Rowe Price Group's payout ratio is presently 52.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TROW. Keefe, Bruyette & Woods restated a "market perform" rating and set a $113.00 price objective (up from $112.00) on shares of T. Rowe Price Group in a research report on Friday, October 30th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $109.00 target price on shares of T. Rowe Price Group in a research report on Monday, August 3rd. TD Cowen decreased their target price on shares of 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. UBS Group began coverage on shares of T. Rowe Price Group in a report on Wednesday, October 7th. They issued a "neutral" rating and a $107.00 price target for the company. Finally, Zacks Research lowered T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of "Reduce" and a consensus target price of $102.83.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the company's stock in a transaction 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 sale, the vice president owned 71,328 shares of the company's stock, valued at $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.

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