3,872 Shares in T. Rowe Price Group, Inc. $TROW Bought by Total Clarity Wealth Management Inc.

Key Points

• Total Clarity Wealth Management Inc. has acquired 3,872 shares of T. Rowe Price Group, valued at approximately $374,000, indicating increased institutional interest in the asset manager.
• Insider trading activity includes a sale by Director Robert F. Maclellan of 3,090 shares, resulting in a 6.13% decrease in his ownership of the stock.
• T. Rowe Price Group reported a quarterly earnings per share (EPS) of $2.24, surpassing consensus estimates, but experienced a 0.6% decline in revenue year-over-year, reflecting challenges in the market.

Total Clarity Wealth Management Inc. bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,872 shares of the asset manager's stock, valued at approximately $374,000.

A number of other institutional investors have also added to or reduced their stakes in TROW. GAMMA Investing LLC increased its holdings in T. Rowe Price Group by 5.1% during the first quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager's stock worth $333,000 after buying an additional 176 shares during the last quarter. CX Institutional acquired a new position in T. Rowe Price Group during the first quarter worth $57,000. Exchange Traded Concepts LLC increased its holdings in T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after buying an additional 212 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in T. Rowe Price Group during the first quarter worth $226,000. Finally, Brown Miller Wealth Management LLC acquired a new position in T. Rowe Price Group during the first quarter worth $289,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $105.36 on Tuesday. The company's 50-day simple moving average is $105.81 and its 200 day simple moving average is $98.58. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a market capitalization of $23.15 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 6.51 and a beta of 1.50.

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

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group's dividend payout ratio is 56.76%.

Analysts Set New Price Targets

TROW has been the topic of a number of recent analyst reports. Bank of America boosted their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an "underperform" rating in a report on Thursday, October 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Jefferies Financial Group upped their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a "hold" rating in a report on Tuesday, October 7th. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the company a "sell" rating in a report on Friday, October 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $106.38.

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.

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