Commonwealth Retirement Investments LLC Buys New Holdings in T. Rowe Price Group, Inc. $TROW

Commonwealth Retirement Investments LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 28,651 shares of the asset manager’s stock, valued at approximately $2,765,000. T. Rowe Price Group comprises 1.1% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 29th largest position.

Several other hedge funds have also bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at approximately $27,000. Hexagon Capital Partners LLC lifted its holdings in T. Rowe Price Group by 44.8% during 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 last quarter. Curio Wealth LLC lifted its holdings in T. Rowe Price Group by 20,700.0% during the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 414 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in T. Rowe Price Group by 3,483.3% during the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares during the last quarter. Finally, Bogart Wealth LLC lifted its holdings in T. Rowe Price Group by 1,787.5% during the 2nd quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock valued at $44,000 after purchasing an additional 429 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on TROW. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Monday, October 27th. Citigroup raised their price objective on shares of T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday. Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their price target on T. Rowe Price Group from $114.00 to $112.00 and set a “hold” rating for the company in a report on Monday. Finally, BMO Capital Markets began coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and an average price target of $109.31.

T. Rowe Price Group Trading Down 0.4%

NASDAQ TROW opened at $101.27 on Wednesday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a 50 day moving average of $104.81 and a 200-day moving average of $100.53. The company has a market cap of $22.25 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 5.61 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.57 earnings per share. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s payout ratio is currently 55.34%.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.

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.