Drucker Wealth 3.0 LLC Takes $683,000 Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Drucker Wealth 3.0 LLC has acquired a new stake in T. Rowe Price Group, Inc., purchasing 6,737 shares valued at approximately $683,000 in the second quarter.
• The asset manager reported an earnings per share (EPS) of $2.24 for the last quarter, exceeding the consensus estimate by $0.09, despite a 0.6% year-over-year decline in quarterly revenue.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, resulting in an annualized dividend yield of 5.0% and a payout ratio of 56.76%.

Drucker Wealth 3.0 LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,737 shares of the asset manager's stock, valued at approximately $683,000.

Several other institutional investors also recently modified their holdings of the business. TFG Advisers LLC grew its holdings in shares of T. Rowe Price Group by 3.6% in the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager's stock valued at $268,000 after acquiring an additional 97 shares in the last quarter. Cooper Financial Group grew its holdings in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock valued at $205,000 after acquiring an additional 110 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after acquiring an additional 113 shares in the last quarter. Associated Banc Corp grew its holdings in shares of T. Rowe Price Group by 0.5% in the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock valued at $2,284,000 after acquiring an additional 114 shares in the last quarter. Finally, Dakota Wealth Management grew its holdings in shares of T. Rowe Price Group by 4.7% in the second quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager's stock valued at $245,000 after acquiring an additional 114 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $101.43 on Friday. The company has a market cap of $22.29 billion, a P/E ratio of 11.33, a P/E/G ratio of 6.54 and a beta of 1.50. The stock's fifty day moving average price is $105.82 and its two-hundred day moving average price is $98.46. 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 posted its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.09. The firm 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%.The business's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.26 earnings per share. On average, analysts expect 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 5.0%. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TROW shares. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. Morgan Stanley upped their price objective on T. Rowe Price Group from $116.00 to $125.00 and gave the company a "positive" rating in a research note on Monday, October 6th. BMO Capital Markets started coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They issued a "market perform" rating and a $108.00 price objective on the stock. Jefferies Financial Group upped their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the company a "hold" rating in a research note on Tuesday, October 7th. Finally, Zacks Research downgraded T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of "Reduce" and a consensus price target of $104.69.

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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