T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 9,067 shares of the asset manager’s stock after acquiring an additional 100 shares during the period. Bourne Lent Asset Management Inc.’s holdings in T. Rowe Price Group were worth $988,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at approximately $1,008,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of 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 purchasing an additional 22,533 shares in the last quarter. Norden Group LLC acquired a new stake in T. Rowe Price Group during the first quarter valued at approximately $8,437,000. Forsta AP Fonden boosted its holdings in T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after buying an additional 17,100 shares in the last quarter. Finally, Mizuho Markets Americas LLC grew its position in T. Rowe Price Group by 90.0% in the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after buying an additional 42,949 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $109.46 on Wednesday. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $122.27. The company’s fifty day moving average price is $106.99 and its 200 day moving average price is $112.08. The company has a market capitalization of $24.44 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.79 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. T. Rowe Price Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.02 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.02 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s 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 completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TROW shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Evercore ISI upped their target price on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th. Barclays lifted their price target on T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Finally, TD Cowen decreased their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $112.82.

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.