T. Rowe Price Group, Inc. $TROW Position Raised by Blume Capital Management Inc.

Key Points

• Blume Capital Management Inc. increased its stake in T. Rowe Price Group by an impressive 808.8% during the 2nd quarter, bringing their total to 7,725 shares, valued at approximately $745,000.
• Several large investors, including Zions Bancorporation and Cromwell Holdings LLC, have also adjusted their holdings, collectively reflecting a trend of rising interest in T. Rowe Price Group among institutional investors.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27 per share, yielding 4.9%, with the dividend payout ratio standing at 56.76%.

Blume Capital Management Inc. grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 808.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,725 shares of the asset manager's stock after acquiring an additional 6,875 shares during the quarter. Blume Capital Management Inc.'s holdings in T. Rowe Price Group were worth $745,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in T. Rowe Price Group in the 1st quarter worth about $27,000. Hexagon Capital Partners LLC raised its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of T. Rowe Price Group during the first quarter worth approximately $39,000. Chilton Capital Management LLC bought a new position in T. Rowe Price Group in the 1st quarter worth approximately $41,000. Finally, Cromwell Holdings LLC increased its position in T. Rowe Price Group by 3,483.3% in the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager's stock valued at $41,000 after acquiring an additional 418 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TROW. Wells Fargo & Company boosted their price target on 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. Morgan Stanley lifted their price objective 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, October 6th. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an "in-line" rating in a report on Thursday, October 9th. Bank of America raised their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an "underperform" rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $107.54.

T. Rowe Price Group Stock Up 0.0%

Shares of TROW stock opened at $104.25 on Wednesday. The stock has a 50-day simple moving average of $105.69 and a 200 day simple moving average of $99.15. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a market capitalization of $22.90 billion, a P/E ratio of 11.65, a P/E/G ratio of 5.72 and a beta of 1.50.

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 for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the company earned $2.26 EPS. T. Rowe Price Group's revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 56.76%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the company's 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 transaction, the director owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 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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