Empowered Funds LLC Acquires 96,727 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Empowered Funds LLC raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 380.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,178 shares of the asset manager’s stock after purchasing an additional 96,727 shares during the period. Empowered Funds LLC owned 0.05% of T. Rowe Price Group worth $13,309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Iron Horse Wealth Management LLC increased its position 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 buying an additional 110 shares during the period. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group during the 2nd quarter worth approximately $29,000. Hexagon Capital Partners LLC grew its holdings in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after acquiring an additional 104 shares during the period. Family Firm Inc. bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc lifted its stake in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday. TD Cowen lowered their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Barclays upped their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.55.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Up 0.5 %

Shares of TROW opened at $120.40 on Friday. The company has a market cap of $26.75 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.68 and a beta of 1.41. The business’s fifty day simple moving average is $110.11 and its two-hundred day simple moving average is $112.06. T. Rowe Price Group, Inc. has a 12 month low of $96.46 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm posted $2.17 earnings per share. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.12%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

T. Rowe Price Group 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.