T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Boosted by RBO & Co. LLC

RBO & Co. LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,435 shares of the asset manager’s stock after purchasing an additional 3,960 shares during the quarter. RBO & Co. LLC’s holdings in T. Rowe Price Group were worth $8,980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in T. Rowe Price Group by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 295,449 shares of the asset manager’s stock worth $36,022,000 after buying an additional 2,323 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of T. Rowe Price Group by 33.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,958 shares of the asset manager’s stock worth $483,000 after acquiring an additional 997 shares during the period. California State Teachers Retirement System lifted its position in T. Rowe Price Group by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 367,900 shares of the asset manager’s stock valued at $44,854,000 after purchasing an additional 3,720 shares during the last quarter. Tidal Investments LLC boosted its stake in T. Rowe Price Group by 21.4% during the 1st quarter. Tidal Investments LLC now owns 6,303 shares of the asset manager’s stock valued at $768,000 after purchasing an additional 1,110 shares during the period. Finally, iA Global Asset Management Inc. grew its position in T. Rowe Price Group by 54.2% in the 1st quarter. iA Global Asset Management Inc. now owns 8,476 shares of the asset manager’s stock worth $1,033,000 after purchasing an additional 2,981 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $123.95 on Wednesday. The company has a market capitalization of $27.54 billion, a P/E ratio of 13.56, a PEG ratio of 1.73 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $96.48 and a 12 month high of $124.31. The company’s 50 day simple moving average is $112.86 and its 200 day simple moving average is $112.61.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.17 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.00%. T. Rowe Price Group’s payout ratio is presently 54.27%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price target on 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 boosted their price target on 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. JPMorgan Chase & Co. lowered their price target on 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. Morgan Stanley upped their price objective on shares of 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. Finally, The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $115.55.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This 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.

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.