CreativeOne Wealth LLC Increases Position in T. Rowe Price Group, Inc. $TROW

Key Points

• CreativeOne Wealth LLC increased its holdings in T. Rowe Price Group by 97.9% during the first quarter, bringing its total shares to 48,710, valued at approximately $4.475 million.
• T. Rowe Price reported earnings of $2.24 per share for the last quarter, surpassing estimates, with a net margin of 28.72% and a revenue decrease of 0.6% year-over-year.
• Recently, T. Rowe Price announced a quarterly dividend of $1.27 per share, equating to an annualized yield of 4.6%, highlighting a payout ratio of 56.76%.

CreativeOne Wealth LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 97.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 48,710 shares of the asset manager's stock after buying an additional 24,099 shares during the period. CreativeOne Wealth LLC's holdings in T. Rowe Price Group were worth $4,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. TCM Advisors LLC raised its holdings in T. Rowe Price Group by 4.7% during the first quarter. TCM Advisors LLC now owns 9,000 shares of the asset manager's stock worth $827,000 after purchasing an additional 400 shares in the last quarter. FORA Capital LLC purchased a new position in T. Rowe Price Group during the first quarter worth about $1,214,000. Campbell & CO Investment Adviser LLC raised its holdings in T. Rowe Price Group by 236.2% during the first quarter. Campbell & CO Investment Adviser LLC now owns 46,523 shares of the asset manager's stock worth $4,274,000 after purchasing an additional 32,687 shares in the last quarter. AIMZ Investment Advisors LLC raised its holdings in T. Rowe Price Group by 7.9% during the first quarter. AIMZ Investment Advisors LLC now owns 49,724 shares of the asset manager's stock worth $4,568,000 after purchasing an additional 3,639 shares in the last quarter. Finally, SVB Wealth LLC raised its holdings in T. Rowe Price Group by 178.6% during the first quarter. SVB Wealth LLC now owns 12,163 shares of the asset manager's stock worth $1,117,000 after purchasing an additional 7,798 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $109.37 on Thursday. The firm has a market cap of $24.03 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 2.83 and a beta of 1.47. The firm's 50 day moving average price is $103.09 and its 200 day moving average price is $97.56. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company's revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.26 EPS. As a group, equities analysts predict 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's payout ratio is presently 56.76%.

Analyst Ratings Changes

Several research firms recently issued reports on TROW. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Evercore ISI increased their target price on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods increased their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and a consensus target price of $101.09.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

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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