Ghe LLC Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ghe LLC lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,680 shares of the asset manager’s stock after acquiring an additional 640 shares during the quarter. T. Rowe Price Group accounts for about 0.9% of Ghe LLC’s investment portfolio, making the stock its 26th biggest position. Ghe LLC’s holdings in T. Rowe Price Group were worth $2,074,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Forsta AP Fonden increased its position in shares of T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after acquiring an additional 17,100 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in T. Rowe Price Group by 90.0% in the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after purchasing an additional 42,949 shares in the last quarter. Savant Capital LLC grew its stake in T. Rowe Price Group by 36.6% in the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after purchasing an additional 8,816 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in T. Rowe Price Group by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after purchasing an additional 6,780 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in T. Rowe Price Group by 3.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager’s stock worth $29,105,000 after purchasing an additional 9,519 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TROW shares. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday. TD Cowen decreased their target price 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. Evercore ISI lifted their target price on 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. Morgan Stanley lifted their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods restated 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. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $115.55.

Insider Buying and Selling at T. Rowe Price Group

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. In other 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 transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded up $0.96 during trading on Wednesday, hitting $119.03. The company had a trading volume of 21,365 shares, compared to its average volume of 1,256,643. The company has a market cap of $26.44 billion, a P/E ratio of 12.92, a PEG ratio of 1.71 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52 week low of $94.47 and a 52 week high of $122.27. The business’s 50-day moving average is $109.83 and its 200 day moving average is $112.02.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results 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 company had revenue of $1.79 billion for 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 was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.32 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 4.17%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

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.