RBO & Co. LLC Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

RBO & Co. LLC lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,435 shares of the asset manager’s stock after buying an additional 3,960 shares during the period. RBO & Co. LLC’s holdings in T. Rowe Price Group were worth $8,980,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TROW. Townsquare Capital LLC raised its position in T. Rowe Price Group by 6.6% in the third quarter. Townsquare Capital LLC now owns 4,839 shares of the asset manager’s stock worth $527,000 after acquiring an additional 299 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $43,000. Quantbot Technologies LP acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $3,321,000. D.A. Davidson & CO. boosted its holdings in T. Rowe Price Group by 4.6% during the third quarter. D.A. Davidson & CO. now owns 107,484 shares of the asset manager’s stock worth $11,708,000 after buying an additional 4,695 shares in the last quarter. Finally, Qsemble Capital Management LP boosted its holdings in T. Rowe Price Group by 172.9% during the third quarter. Qsemble Capital Management LP now owns 34,042 shares of the asset manager’s stock worth $3,708,000 after buying an additional 21,567 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of TROW opened at $123.95 on Wednesday. T. Rowe Price Group, Inc. has a 12 month low of $96.48 and a 12 month high of $124.31. The stock’s 50-day moving average is $112.86 and its two-hundred day moving average is $112.61. The stock has a market cap of $27.54 billion, a PE ratio of 13.56, a P/E/G ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.17 EPS. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

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 paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents 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 insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on TROW. Barclays increased 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. TD Cowen reduced their price objective on 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. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Four investment 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.com, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $115.55.

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.