MQS Management LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

MQS Management LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, Holdings Channel reports. The firm purchased 2,594 shares of the asset manager’s stock, valued at approximately $283,000.

Other institutional investors also recently added to or reduced their stakes in the company. Insight Folios Inc grew its position in shares of T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after acquiring an additional 90 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in T. Rowe Price Group by 7.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock worth $153,000 after purchasing an additional 92 shares during the period. Keystone Financial Services boosted its stake in T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares during the period. Nvwm LLC grew its position in T. Rowe Price Group by 2.2% during the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after purchasing an additional 95 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $119.80 on Friday. The firm has a market capitalization of $26.61 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The business’s 50 day simple moving average is $110.11 and its 200-day simple moving average is $112.06. T. Rowe Price Group, Inc. has a 12 month low of $96.46 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business earned $2.17 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.14%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday. Finally, Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $115.55.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction 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 trade represents a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 8.83 % 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 company insiders.

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.