4,604 Shares in T. Rowe Price Group, Inc. $TROW Acquired by Capital Management Associates Inc

Key Points

• Capital Management Associates Inc has acquired 4,604 shares of T. Rowe Price Group, Inc., valued at approximately $444,000, during the second quarter.
• T. Rowe Price Group's stock recently received mixed ratings from analysts, with a consensus price target of $104.92 and an average rating of "Reduce."
• The company declared a quarterly dividend of $1.27 per share, yielding 4.8%, with a payout ratio of 56.76%.

Capital Management Associates Inc bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,604 shares of the asset manager's stock, valued at approximately $444,000.

Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new stake in T. Rowe Price Group during the first quarter worth approximately $27,000. Hexagon Capital Partners LLC boosted its position in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after acquiring an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in T. Rowe Price Group during the first quarter worth approximately $39,000. 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 worth $41,000 after acquiring an additional 418 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in T. Rowe Price Group during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction 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 sale, the director owned 47,335 shares of the company's stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of T. Rowe Price Group in a research report on Wednesday. Barclays reiterated an "underweight" rating and issued a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. BMO Capital Markets started coverage on shares of T. Rowe Price Group in a report on Friday, October 3rd. They issued a "market perform" rating and a $108.00 price target on the stock. Jefferies Financial Group lifted their price target 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. Finally, Zacks Research lowered shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $104.92.

T. Rowe Price Group Trading Up 0.0%

NASDAQ:TROW opened at $105.82 on Thursday. The firm has a market capitalization of $23.25 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 6.82 and a beta of 1.50. The firm's fifty day simple moving average is $105.76 and its 200 day simple moving average is $98.32. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.26 EPS. On average, analysts predict 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 declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group's payout ratio is 56.76%.

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.

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