Callan Family Office LLC Purchases 2,528 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Callan Family Office LLC increased its stake in T. Rowe Price Group by 99.2%, acquiring an additional 2,528 shares, bringing its total holdings to 5,076 shares valued at approximately $490,000.
• T. Rowe Price Group reported earnings of $2.24 EPS for the last quarter, surpassing analyst expectations of $2.15, despite a 0.6% decrease in year-over-year revenue.
• The company announced a quarterly dividend of $1.27, resulting in an annualized dividend of $5.08 and a yield of 4.8%.

Callan Family Office LLC boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 99.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,076 shares of the asset manager's stock after acquiring an additional 2,528 shares during the period. Callan Family Office LLC's holdings in T. Rowe Price Group were worth $490,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. TFG Advisers LLC grew its holdings in T. Rowe Price Group by 3.6% in the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager's stock worth $268,000 after acquiring an additional 97 shares during the last quarter. Cooper Financial Group lifted its position in shares of T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of T. Rowe Price Group by 44.8% in 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 during the period. Associated Banc Corp lifted its position in shares of T. Rowe Price Group by 0.5% in the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after purchasing an additional 114 shares during the period. Finally, Dakota Wealth Management lifted its position in shares of T. Rowe Price Group by 4.7% in the 2nd quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager's stock worth $245,000 after purchasing an additional 114 shares during the period. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $106.13 on Wednesday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock has a market cap of $23.32 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 5.80 and a beta of 1.50. The firm has a 50-day moving average of $105.82 and a 200 day moving average of $98.64.

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

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a $1.27 dividend. 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%.

Analyst Ratings Changes

Several research firms have recently commented on TROW. Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Bank of America raised 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 research report on Thursday, October 2nd. Barclays reaffirmed an "underweight" rating and issued a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the stock a "hold" rating in a research report on Monday. One 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 company. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $106.38.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group 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 completion of the transaction, the director directly owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company's stock.

T. Rowe Price Group 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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