Altus Wealth Group LLC Buys 217 Shares of T. Rowe Price Group, Inc. $TROW

Altus Wealth Group LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,228 shares of the asset manager’s stock after acquiring an additional 217 shares during the period. Altus Wealth Group LLC’s holdings in T. Rowe Price Group were worth $601,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after buying an additional 222,556 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after buying an additional 519,075 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after buying an additional 1,035,865 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of T. Rowe Price Group by 4.9% during the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock valued at $271,541,000 after buying an additional 138,515 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of T. Rowe Price Group by 3.6% during the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager’s stock valued at $218,105,000 after buying an additional 83,324 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group 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 approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of a number of research reports. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price on the stock. TD Cowen boosted their target price on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Finally, Jefferies Financial Group upped their price target on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $106.92.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $103.70 on Monday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The business has a 50-day simple moving average of $105.78 and a two-hundred day simple moving average of $98.96. The firm has a market cap of $22.78 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 5.69 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. T. Rowe Price Group’s revenue was down .6% on a year-over-year basis. As a group, research analysts predict 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. Shareholders of record on Monday, September 15th were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s payout ratio is 56.76%.

About T. Rowe Price Group

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.