T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Davis R M Inc.

Davis R M Inc. raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.1% during the third quarter, HoldingsChannel reports. The firm owned 153,511 shares of the asset manager’s stock after buying an additional 1,639 shares during the period. Davis R M Inc.’s holdings in T. Rowe Price Group were worth $16,722,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TROW. International Assets Investment Management LLC grew its stake in shares of T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares during the period. AQR Capital Management LLC grew its position in T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after buying an additional 196,565 shares during the last quarter. Finally, Burney Co. acquired a new position in T. Rowe Price Group in the 2nd quarter valued at $20,938,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TROW. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. TD Cowen reduced their price objective on 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. Barclays upped their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Stock Up 1.4 %

Shares of NASDAQ:TROW opened at $119.84 on Monday. The business has a fifty day simple moving average of $112.20 and a 200-day simple moving average of $112.44. T. Rowe Price Group, Inc. has a 52 week low of $96.48 and a 52 week high of $122.27. The company has a market cap of $26.62 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.70 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared 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. This represents a $4.96 annualized dividend and a yield of 4.14%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following 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 disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Company 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.