Radnor Capital Management LLC Has $370,000 Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Radnor Capital Management LLC raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 59.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,395 shares of the asset manager’s stock after acquiring an additional 1,260 shares during the period. Radnor Capital Management LLC’s holdings in T. Rowe Price Group were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Norden Group LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $420,000. Texas Permanent School Fund Corp grew its position in T. Rowe Price Group by 0.5% during the first quarter. Texas Permanent School Fund Corp now owns 51,560 shares of the asset manager’s stock valued at $6,286,000 after purchasing an additional 266 shares in the last quarter. Empirical Finance LLC increased its stake in T. Rowe Price Group by 3.5% in the 1st quarter. Empirical Finance LLC now owns 8,176 shares of the asset manager’s stock valued at $997,000 after buying an additional 274 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in T. Rowe Price Group by 52.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock worth $7,990,000 after buying an additional 22,533 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of T. Rowe Price Group by 62.4% during the 1st quarter. Empowered Funds LLC now owns 25,779 shares of the asset manager’s stock valued at $3,143,000 after buying an additional 9,910 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on TROW. The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price 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. Morgan Stanley increased 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 note on Monday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Trading Down 1.0 %

Shares of TROW stock opened at $120.06 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $90.02 and a 12 month high of $122.27. The company has a market capitalization of $26.67 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.73 and a beta of 1.41. The stock has a 50 day moving average of $108.79 and a two-hundred day moving average of $111.82.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.27 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm 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 $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.13%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’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 value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on 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 owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.