Thrivent Financial for Lutherans Has $4.77 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Posted by Defense World Staff on May 14th, 2023

Thrivent Financial for Lutherans reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 33.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,772 shares of the asset manager’s stock after selling 21,873 shares during the quarter. Thrivent Financial for Lutherans’ holdings in T. Rowe Price Group were worth $4,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its stake in T. Rowe Price Group by 0.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 34,699 shares of the asset manager’s stock worth $3,784,000 after purchasing an additional 141 shares in the last quarter. Keating Investment Counselors Inc. acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $222,000. Russell Investments Group Ltd. boosted its position in T. Rowe Price Group by 7.8% during the 4th quarter. Russell Investments Group Ltd. now owns 253,911 shares of the asset manager’s stock worth $27,750,000 after acquiring an additional 18,323 shares during the last quarter. Crewe Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 87.6% in the 4th quarter. Crewe Advisors LLC now owns 349 shares of the asset manager’s stock valued at $38,000 after buying an additional 163 shares during the last quarter. Finally, Windle Wealth LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $4,857,000. 76.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $114.52, for a total value of $1,370,689.88. Following the transaction, the vice president now owns 129,436 shares of the company’s stock, valued at $14,823,010.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $114.52, for a total transaction of $1,370,689.88. Following the transaction, the vice president now owns 129,436 shares of the company’s stock, valued at approximately $14,823,010.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,881 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $106.66, for a total value of $200,627.46. Following the transaction, the insider now directly owns 11,628 shares in the company, valued at approximately $1,240,242.48. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

T. Rowe Price Group Trading Down 0.7 %

Shares of T. Rowe Price Group stock opened at $105.31 on Friday. The stock has a fifty day simple moving average of $109.59 and a 200 day simple moving average of $114.03. T. Rowe Price Group, Inc. has a 12-month low of $93.53 and a 12-month high of $134.64. The company has a market capitalization of $23.65 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 2.68 and a beta of 1.30.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.07. T. Rowe Price Group had a return on equity of 17.92% and a net margin of 22.90%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the company posted $2.62 earnings per share. T. Rowe Price Group’s revenue was down 17.5% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group, Inc. will post 6.6 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th will be given a $1.22 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $4.88 annualized dividend and a yield of 4.63%. T. Rowe Price Group’s dividend payout ratio is currently 79.87%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TROW. Bank of America cut their price target on T. Rowe Price Group from $78.00 to $72.00 and set an “underperform” rating for the company in a report on Wednesday, April 5th. StockNews.com assumed coverage on T. Rowe Price Group in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. TheStreet lowered T. Rowe Price Group from a “b-” rating to a “c” rating in a research note on Thursday, January 26th. VNET Group reissued a “maintains” rating on shares of T. Rowe Price Group in a research note on Wednesday, May 3rd. Finally, BMO Capital Markets cut their price target on T. Rowe Price Group from $105.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 27th. Five research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $93.30.

T. Rowe Price Group Company Profile

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T. Rowe Price Group, Inc engages in the provision of investment management services. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.