World Investment Advisors LLC Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

World Investment Advisors LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,508 shares of the asset manager’s stock, valued at approximately $273,000.

A number of other hedge funds have also modified their holdings of the business. Insight Folios Inc increased its position in T. Rowe Price Group by 3.6% in the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after acquiring an additional 90 shares during the period. Keystone Financial Services increased its holdings in shares of T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 92 shares during the period. Nvwm LLC lifted its holdings in shares of T. Rowe Price Group by 2.2% during the third 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 period. Strategy Asset Managers LLC grew its position in T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after buying 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 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after buying an additional 99 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. TD Cowen cut 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. Morgan Stanley raised their price target 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. Finally, Evercore ISI increased their price objective on 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 equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $117.09.

View Our Latest Report on TROW

T. Rowe Price Group Stock Down 4.3 %

T. Rowe Price Group stock opened at $112.83 on Thursday. The firm’s 50-day simple moving average is $117.26 and its 200 day simple moving average is $113.25. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The firm has a market capitalization of $25.07 billion, a PE ratio of 12.34, a P/E/G ratio of 1.73 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $2.17 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.40%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

T. Rowe Price Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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