T. Rowe Price Group, Inc. $TROW Holdings Decreased by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 54.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,278 shares of the asset manager’s stock after selling 5,218 shares during the quarter. Elevated Capital Advisors LLC’s holdings in T. Rowe Price Group were worth $445,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TROW. AlphaCore Capital LLC increased its position in shares of T. Rowe Price Group by 204.5% during the third quarter. AlphaCore Capital LLC now owns 10,601 shares of the asset manager’s stock valued at $1,103,000 after buying an additional 7,119 shares during the period. Fulcrum Asset Management LLP boosted its position in shares of T. Rowe Price Group by 71.2% in the third quarter. Fulcrum Asset Management LLP now owns 39,834 shares of the asset manager’s stock valued at $4,163,000 after acquiring an additional 16,564 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of T. Rowe Price Group by 11.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,231 shares of the asset manager’s stock valued at $1,929,000 after acquiring an additional 1,898 shares during the period. StoneRidge PMG Advisors LLC bought a new position in shares of T. Rowe Price Group in the third quarter valued at approximately $895,000. Finally, Brighton Jones LLC purchased a new position in T. Rowe Price Group during the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. TD Cowen decreased their target price on shares of T. Rowe Price Group from $109.00 to $96.00 and set a “hold” rating on the stock in a report on Friday, October 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up from $112.00) on shares of T. Rowe Price Group in a report on Friday, October 30th. UBS Group initiated coverage on shares of T. Rowe Price Group in a report on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 price target for the company. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Finally, Morgan Stanley upped their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock an “equal weight” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $102.83.

T. Rowe Price Group Trading Up 0.1%

Shares of TROW opened at $110.90 on Wednesday. The company has a market cap of $23.66 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 4.24 and a beta of 1.43. The stock has a 50-day moving average price of $105.24 and a 200-day moving average price of $103.82. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.86 EPS for the quarter, topping the consensus estimate of $2.63 by $0.23. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.98 billion. T. Rowe Price Group had a return on equity of 20.63% and a net margin of 28.40%. T. Rowe Price Group’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.81 earnings per share. As a group, analysts predict that T. Rowe Price Group, Inc. will post 10.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Wednesday, December 16th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, December 16th. T. Rowe Price Group’s payout ratio is currently 52.58%.

T. Rowe Price Group Profile

T. Rowe Price Group is a global investment management firm that provides investment products and related services to individuals, retirement plans, institutions and financial intermediaries. Founded in 1937 by Thomas Rowe Price Jr., the company is headquartered in Baltimore, Maryland. The firm manages a range of investment strategies, including equity, fixed-income and multi-asset portfolios. Its offerings include mutual funds, exchange-traded funds and separately managed accounts, as well as retirement-focused products and advisory services.