Gries Financial LLC Has $2.09 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Gries Financial LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 45.0% in the third quarter, Holdings Channel reports. The firm owned 20,372 shares of the asset manager’s stock after buying an additional 6,327 shares during the quarter. Gries Financial LLC’s holdings in T. Rowe Price Group were worth $2,091,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TROW. TD Waterhouse Canada Inc. raised its stake in T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares during the period. Vermillion & White Wealth Management Group LLC increased its stake in T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after acquiring an additional 174 shares during the period. Salomon & Ludwin LLC raised its holdings in T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $35,000. Finally, Curio Wealth LLC grew its holdings in shares of T. Rowe Price Group by 20,700.0% during the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after purchasing an additional 414 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.8%

TROW stock opened at $106.49 on Tuesday. The firm has a 50 day moving average of $102.93 and a 200-day moving average of $103.69. The firm has a market capitalization of $23.24 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 2.65 and a beta of 1.52. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company posted $2.57 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. This represents a 8.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TROW shares. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Keefe, Bruyette & Woods lowered their price target on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft dropped their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research note on Wednesday, December 17th. TD Cowen boosted their price objective on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $108.31.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.