PARK CIRCLE Co Purchases 5,000 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• PARK CIRCLE Co increased its stake in T. Rowe Price Group by 7.8% during the second quarter, acquiring an additional 5,000 shares, bringing its total holdings to 69,345 shares, valued at $6.69 million.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27 per share, resulting in an annualized dividend yield of 4.8%.
• Morgan Stanley raised their target price for T. Rowe Price Group shares from $116 to $125 and bestowed a "positive" rating on the stock.

PARK CIRCLE Co lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,345 shares of the asset manager's stock after buying an additional 5,000 shares during the period. T. Rowe Price Group makes up 5.7% of PARK CIRCLE Co's holdings, making the stock its 5th largest position. PARK CIRCLE Co's holdings in T. Rowe Price Group were worth $6,692,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. TFG Advisers LLC boosted its position 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 during the period. Cooper Financial Group raised its stake in T. Rowe Price Group by 5.2% during the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock valued at $205,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in 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 valued at $34,000 after purchasing an additional 113 shares during the period. Associated Banc Corp grew its position in 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 last quarter. Finally, Dakota Wealth Management increased its holdings in shares of T. Rowe Price Group by 4.7% during 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.

Insider Activity

In related 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 transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares of the company's stock, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Up 0.0%

TROW stock opened at $105.82 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The firm has a market cap of $23.25 billion, a P/E ratio of 11.82, a P/E/G ratio of 6.82 and a beta of 1.50. The business's 50 day moving average is $105.76 and its 200-day moving average is $98.32.

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

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors 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 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

Analyst Ratings Changes

Several research firms recently weighed in on TROW. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the company a "positive" rating in a research note on Monday. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $91.00 to $92.00 and gave the company a "sell" rating in a report on Friday, October 3rd. Jefferies Financial Group raised their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Finally, Evercore ISI restated a "positive" rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. 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, T. Rowe Price Group presently has an average rating of "Reduce" and an average price target of $104.92.

T. Rowe Price Group Company 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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