T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Provident Trust Co.

Provident Trust Co. grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,397,728 shares of the asset manager’s stock after acquiring an additional 7,905 shares during the period. T. Rowe Price Group makes up approximately 4.7% of Provident Trust Co.’s portfolio, making the stock its 9th largest position. Provident Trust Co.’s holdings in T. Rowe Price Group were worth $261,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norden Group LLC purchased a new position in T. Rowe Price Group in the 1st quarter valued at approximately $420,000. Texas Permanent School Fund Corp increased its position in shares of T. Rowe Price Group by 0.5% in 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 buying an additional 266 shares in the last quarter. Empirical Finance LLC increased its position in shares of T. Rowe Price Group by 3.5% in the first 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 in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of T. Rowe Price Group by 52.4% during 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 during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of T. Rowe Price Group by 62.4% in the 1st quarter. Empowered Funds LLC now owns 25,779 shares of the asset manager’s stock worth $3,143,000 after buying an additional 9,910 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 2.0 %

T. Rowe Price Group stock opened at $117.62 on Friday. The stock has a fifty day moving average price of $109.33 and a 200 day moving average price of $111.92. T. Rowe Price Group, Inc. has a 52 week low of $90.02 and a 52 week high of $122.27. The firm has a market capitalization of $26.13 billion, a P/E ratio of 12.87, a PEG ratio of 1.76 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted 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. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $2.17 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.32 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid 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 is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was 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 accessible through this hyperlink. 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 shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on 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 approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TROW has been the subject of several recent research reports. Barclays raised their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $115.09.

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.