Claro Advisors LLC Acquires 942 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Claro Advisors LLC raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,964 shares of the asset manager’s stock after buying an additional 942 shares during the quarter. Claro Advisors LLC’s holdings in T. Rowe Price Group were worth $867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Insight Folios Inc increased its holdings in T. Rowe Price Group by 3.6% in the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after buying an additional 90 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in T. Rowe Price Group by 7.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock valued at $153,000 after buying an additional 92 shares during the period. Keystone Financial Services increased its holdings in T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after buying an additional 92 shares during the period. Nvwm LLC increased its holdings in T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after buying an additional 95 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in T. Rowe Price Group by 29.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after buying an additional 99 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred 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 approximately $12,712,255.92. This represents a 8.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $118.77 on Monday. The company has a market capitalization of $26.39 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 1.68 and a beta of 1.41. The firm’s 50 day simple moving average is $110.77 and its 200 day simple moving average is $112.20. T. Rowe Price Group, Inc. has a fifty-two week low of $96.46 and a fifty-two week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results 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. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company posted $2.17 EPS. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company 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. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TROW shares. Morgan Stanley upped their target price 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. Evercore ISI upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. 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 report on Thursday, October 3rd. Barclays increased their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $115.55.

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.