HORAN Wealth LLC Invests $1.59 Million in T. Rowe Price Group, Inc. $TROW

HORAN Wealth LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,433 shares of the asset manager’s stock, valued at approximately $1,586,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SouthState Corp boosted its position in shares of T. Rowe Price Group by 6.6% during the second quarter. SouthState Corp now owns 8,682 shares of the asset manager’s stock worth $838,000 after buying an additional 538 shares during the period. Sienna Gestion boosted its position in shares of T. Rowe Price Group by 10.2% during the second quarter. Sienna Gestion now owns 121,719 shares of the asset manager’s stock worth $10,724,000 after buying an additional 11,238 shares during the period. Andra AP fonden boosted its position in shares of T. Rowe Price Group by 2.2% during the second quarter. Andra AP fonden now owns 113,900 shares of the asset manager’s stock worth $10,991,000 after buying an additional 2,500 shares during the period. Resona Asset Management Co. Ltd. boosted its position in shares of T. Rowe Price Group by 6.2% during the second quarter. Resona Asset Management Co. Ltd. now owns 97,120 shares of the asset manager’s stock worth $9,359,000 after buying an additional 5,685 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of T. Rowe Price Group during the second quarter worth $35,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

TROW opened at $102.38 on Thursday. The business’s 50-day simple moving average is $104.67 and its 200-day simple moving average is $100.55. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a market capitalization of $22.49 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50.

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

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s payout ratio is 55.34%.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director owned 47,335 shares in the company, valued at approximately $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 accessible through this link. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TROW shares. BMO Capital Markets assumed coverage on T. Rowe Price Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Bank of America increased their price objective on 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. Barclays set a $101.00 price objective on T. Rowe Price Group in a research note on Monday. Finally, Morgan Stanley increased their price objective on T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $109.31.

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.