Commerce Bank Increases Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Commerce Bank boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,198 shares of the asset manager’s stock after purchasing an additional 3,686 shares during the quarter. Commerce Bank’s holdings in T. Rowe Price Group were worth $10,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Iron Horse Wealth Management LLC increased its stake in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares during the period. Lynx Investment Advisory bought a new position in T. Rowe Price Group during the 2nd quarter worth about $29,000. Hexagon Capital Partners LLC increased its position in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Family Firm Inc. bought a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at about $36,000. Finally, Versant Capital Management Inc raised its holdings in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $117.52 on Thursday. The business’s 50-day moving average is $111.62 and its 200 day moving average is $112.33. T. Rowe Price Group, Inc. has a 1 year low of $96.46 and a 1 year high of $122.27. The firm has a market capitalization of $26.11 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.67 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm 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%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.17 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.33 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 issued 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 4.22%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $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.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TROW. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Barclays increased their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Evercore ISI raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, TD Cowen reduced their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.