Commerce Bank Buys 3,686 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Commerce Bank grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,198 shares of the asset manager’s stock after buying an additional 3,686 shares during the period. Commerce Bank’s holdings in T. Rowe Price Group were worth $10,152,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Iron Horse Wealth Management LLC increased its holdings in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares in the last quarter. Lynx Investment Advisory bought a new position in T. Rowe Price Group in the second quarter worth approximately $29,000. Hexagon Capital Partners LLC lifted its position in T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. bought a new position in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $36,000. Finally, Versant Capital Management Inc increased its holdings in 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 worth $38,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on TROW shares. Morgan Stanley upped their price target on shares of 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Evercore ISI increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Barclays upped their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Trading Down 0.4 %

Shares of NASDAQ:TROW opened at $117.52 on Thursday. The company has a market cap of $26.11 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.67 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $96.46 and a 12 month high of $122.27. The company has a 50-day moving average price of $111.62 and a 200 day moving average price of $112.33.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (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 business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $2.17 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.33 EPS 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. Shareholders of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Friday, December 13th. 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.