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

Commonwealth Retirement Investments LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 28,651 shares of the asset manager’s stock, valued at approximately $2,765,000. T. Rowe Price Group accounts for 1.1% of Commonwealth Retirement Investments LLC’s holdings, making the stock its 29th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Invesco Ltd. increased its holdings in shares of T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after acquiring an additional 1,035,865 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after acquiring an additional 519,075 shares in the last quarter. ARGA Investment Management LP grew its position in shares of T. Rowe Price Group by 3,807.3% in the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after purchasing an additional 464,949 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $37,722,000. Finally, Vanguard Group Inc. grew its position in shares of T. Rowe Price Group by 0.9% in 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 purchasing an additional 222,556 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. TD Cowen lifted their price target on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research note on Monday. Barclays set a $101.00 price target on shares of T. Rowe Price Group in a report on Monday. Citigroup upped their target price on shares of T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $109.31.

T. Rowe Price Group Trading Down 0.4%

Shares of TROW opened at $101.27 on Wednesday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a fifty day simple moving average of $104.81 and a 200 day simple moving average of $100.53. The stock has a market capitalization 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 posted its quarterly earnings data 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 net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business posted $2.57 EPS. The company’s quarterly revenue was up 6.0% 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 fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $1.27 per share. 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 dividend payout ratio is 55.34%.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% 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.