T. Rowe Price

Nov 19, 2024

CIBC Asset Management Inc Buys 2,423 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) Posted by MarketBeat News on Nov 19th, 2024 CIBC Asset Management Inc increased its stake in T. Rowe Price Group, Inc. ( NASDAQ:TROW – Free Report ) by 6.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,064 shares of the asset manager’s stock after acquiring an additional 2,423 shares during the quarter. CIBC Asset Management Inc’s holdings in T. Rowe Price Group were worth $4,146,000 at the end of the most recent quarter. Several other large investors also recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC raised its stake in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares in the last quarter. Lynx Investment Advisory bought a new stake in T. Rowe Price Group during the 2nd quarter valued at $29,000. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the period. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $36,000. Finally, Versant Capital Management Inc increased its stake in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors. Get T. Rowe Price Group alerts: T. Rowe Price Group Stock Down 0.1 % TROW stock opened at $118.66 on Tuesday. The stock has a market capitalization of $26.36 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52 week low of $96.46 and a 52 week high of $122.27. The firm has a 50 day moving average of $111.07 and a 200 day moving average of $112.25. Want More Great Investing Ideas? T. Rowe Price Group ( NASDAQ:TROW – Get Free Report ) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping 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 the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $2.17 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year. T. Rowe Price Group Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%. Insider Transactions at T. Rowe Price Group In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated 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 transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link . Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here . Company insiders own 2.00% of the company’s stock. Analysts Set New Price Targets A number of analysts recently weighed in on the stock. TD Cowen lowered 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 research note on Monday, November 4th. The Goldman Sachs Group dropped their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Morgan Stanley boosted their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $115.55.