T. Rowe Price Group, Inc. $TROW Holdings Increased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its T. Rowe Price stake by 250.8% in the third quarter, bringing its holdings to 25,000 shares valued at approximately $2.6 million. Institutional investors collectively own 73.39% of TROW.
• T. Rowe Price reported quarterly EPS of $2.86, exceeding the $2.63 consensus estimate, while revenue rose 5.9% year over year to $2 billion.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and a $102.83 price target versus the stock’s $105.85 opening price. The company’s annualized dividend is $5.20 per share, yielding about 4.9%.

International Assets Investment Management LLC raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 250.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the asset manager's stock after purchasing an additional 17,873 shares during the period. International Assets Investment Management LLC's holdings in T. Rowe Price Group were worth $2,601,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wealthcare Capital Partners LLC grew its position in T. Rowe Price Group by 1.0% during the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock worth $1,087,000 after buying an additional 93 shares in the last quarter. Kesler Norman & Wride LLC boosted its position in shares of T. Rowe Price Group by 0.6% during the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock valued at $1,809,000 after acquiring an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of T. Rowe Price Group by 9.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock valued at $131,000 after acquiring an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock valued at $2,259,000 after acquiring an additional 100 shares during the last quarter. Finally, Concorde Asset Management LLC boosted its position in shares of T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager's stock valued at $246,000 after acquiring an additional 102 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $106.00 to $107.00 and gave the stock an "underweight" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Weiss Ratings raised shares of T. Rowe Price Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company an "equal weight" rating in a research report on Friday, October 23rd. Finally, BMO Capital Markets lowered their price objective on shares of T. Rowe Price Group from $120.00 to $110.00 and set a "market perform" rating on the stock in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $102.83.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $105.85 on Tuesday. The business has a 50 day moving average of $105.54 and a 200 day moving average of $103.71. The company has a market capitalization of $22.58 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 3.04 and a beta of 1.45. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The asset manager reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.63 by $0.23. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.98 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business's quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $2.81 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 10.16 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, September 15th. T. Rowe Price Group's payout ratio is 52.58%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company's stock.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.

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