CreativeOne Wealth LLC Increases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

CreativeOne Wealth LLC raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 57.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,664 shares of the asset manager’s stock after acquiring an additional 7,561 shares during the quarter. CreativeOne Wealth LLC’s holdings in T. Rowe Price Group were worth $2,251,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Iron Horse Wealth Management LLC increased its stake in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares during the period. Lynx Investment Advisory purchased a new position in T. Rowe Price Group in the second quarter valued at about $29,000. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. purchased a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc raised its position in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Barclays upped their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $115.55.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $124.16 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $96.50 and a 1 year high of $124.83. The business has a fifty day moving average of $113.18 and a 200-day moving average of $112.69. The stock has a market cap of $27.58 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm posted $2.17 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is currently 54.27%.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is 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.