Toronto Dominion Bank Boosts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Toronto Dominion Bank lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,927 shares of the asset manager’s stock after buying an additional 494 shares during the quarter. Toronto Dominion Bank’s holdings in T. Rowe Price Group were worth $8,162,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TROW. Iron Horse Wealth Management LLC lifted its position in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares during the last quarter. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group in the second quarter worth about $36,000. True Wealth Design LLC bought a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at about $37,000. Finally, Larson Financial Group LLC boosted its holdings in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on TROW. Morgan Stanley boosted their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Barclays raised their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, December 9th. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, TD Cowen cut their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $117.09.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $119.54 on Friday. The stock’s 50 day simple moving average is $116.67 and its two-hundred day simple moving average is $113.24. The stock has a market cap of $26.56 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.73 and a beta of 1.42. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company 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%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.17 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

T. Rowe Price Group Company 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.