Applied Finance Capital Management LLC Buys New Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Applied Finance Capital Management LLC acquired a new stake in T. Rowe Price Group, purchasing 5,702 shares valued at approximately $550,000.
• Analysts have recently upgraded their price targets for T. Rowe Price Group, with Morgan Stanley increasing its target from $116 to $125, while the average consensus price target is $106.92.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, reflecting a dividend yield of 4.9% and a payout ratio of 56.76%.

Applied Finance Capital Management LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,702 shares of the asset manager's stock, valued at approximately $550,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in T. Rowe Price Group in the 1st quarter valued at about $27,000. Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after purchasing an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in T. Rowe Price Group during the 1st quarter worth approximately $39,000. Cromwell Holdings LLC increased its holdings in T. Rowe Price Group by 3,483.3% during the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager's stock worth $41,000 after purchasing an additional 418 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new stake in T. Rowe Price Group during the 1st quarter worth approximately $41,000. 73.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a "positive" rating in a report on Monday, October 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $109.00 to $114.00 and gave the stock a "hold" rating in a report on Thursday, October 9th. Weiss Ratings reissued a "hold (c)" rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. TD Cowen boosted their price objective on T. Rowe Price Group from $103.00 to $108.00 and gave the stock a "hold" rating in a report on Wednesday, October 8th. Finally, Evercore ISI boosted their target price on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an "in-line" rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of "Reduce" and a consensus price target of $106.92.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the company's stock in a transaction on 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 owned 47,335 shares of the company's stock, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Up 0.5%

T. Rowe Price Group stock opened at $103.70 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The business's 50 day simple moving average is $105.78 and its 200 day simple moving average is $98.84. The company has a market cap of $22.78 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 5.66 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS 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 the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.26 earnings per share. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group's dividend payout ratio is currently 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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