iA Global Asset Management Inc. Buys 4,240 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

iA Global Asset Management Inc. grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 53.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,105 shares of the asset manager’s stock after buying an additional 4,240 shares during the quarter. iA Global Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Iron Horse Wealth Management LLC boosted its stake in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC lifted 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 in the last quarter. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group during the second quarter valued at $36,000. True Wealth Design LLC bought a new stake in T. Rowe Price Group in the 3rd quarter worth about $37,000. Finally, Larson Financial Group LLC raised its position in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.7 %

NASDAQ TROW opened at $123.83 on Monday. T. Rowe Price Group, Inc. has a 52 week low of $97.50 and a 52 week high of $125.81. The company has a market capitalization of $27.51 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.75 and a beta of 1.42. The stock’s 50-day moving average price is $115.26 and its 200-day moving average price is $113.06.

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, topping analysts’ consensus estimates 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 net margin of 30.35% and a return on equity of 20.35%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.17 EPS. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Evercore ISI lifted their target price 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. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $115.55.

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.