Private Wealth Partners LLC Raises Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Private Wealth Partners LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 67.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,525 shares of the asset manager’s stock after acquiring an additional 2,225 shares during the period. Private Wealth Partners LLC’s holdings in T. Rowe Price Group were worth $602,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in T. Rowe Price Group by 3.8% during the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after buying an additional 124,686 shares in the last quarter. American Century Companies Inc. boosted its holdings in T. Rowe Price Group by 4.5% during the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after buying an additional 107,086 shares in the last quarter. ProShare Advisors LLC boosted its holdings in T. Rowe Price Group by 2.5% during the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock worth $188,592,000 after buying an additional 40,490 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 buying an additional 220,105 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after buying an additional 1,054,461 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related 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 shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 484 shares of the 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 sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 $12,712,255.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TROW has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Barclays upped their price target on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $113.00.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $112.06 on Friday. The firm has a 50 day simple moving average of $108.32 and a 200-day simple moving average of $111.69. The firm has a market cap of $24.94 billion, a PE ratio of 13.23, a P/E/G ratio of 1.71 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $90.02 and a 1-year high of $122.27.

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 for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the business posted $2.17 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.16 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 4.43%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.56%.

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.