T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 172,403 shares of the asset manager’s stock after acquiring an additional 934 shares during the quarter. T. Rowe Price Group comprises approximately 2.3% of L. Roy Papp & Associates LLP’s investment portfolio, making the stock its 14th largest holding. L. Roy Papp & Associates LLP’s holdings in T. Rowe Price Group were worth $18,780,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Iron Horse Wealth Management LLC increased its holdings in T. Rowe Price Group by 90.9% in 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 last quarter. Lynx Investment Advisory bought a new stake in T. Rowe Price Group in the second quarter valued at about $29,000. Hexagon Capital Partners LLC grew its holdings 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 purchasing an additional 104 shares during the last quarter. Family Firm Inc. bought a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $36,000. Finally, Versant Capital Management Inc grew its holdings in shares of T. Rowe Price Group by 660.5% during the second 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 during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $0.68 on Friday, reaching $111.33. 863,146 shares of the company traded hands, compared to its average volume of 1,248,162. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The company’s 50 day moving average is $108.08 and its 200-day moving average is $111.81. The stock has a market capitalization of $24.86 billion, a PE ratio of 13.22, a P/E/G ratio of 1.86 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company posted $2.02 EPS. T. Rowe Price Group’s revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.09 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.46%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on 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 sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley upped their target price on T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Wells Fargo & Company upped their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group decreased 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 issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $113.00.

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.