Harbor Investment Advisory LLC Has $2.27 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Harbor Investment Advisory LLC decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,791 shares of the asset manager’s stock after selling 459 shares during the quarter. Harbor Investment Advisory LLC’s holdings in T. Rowe Price Group were worth $2,265,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TROW. Confluence Investment Management LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $130,386,000. Los Angeles Capital Management LLC raised its position in shares of T. Rowe Price Group by 492.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock valued at $39,001,000 after acquiring an additional 265,881 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares during the period. AQR Capital Management LLC boosted its position in shares of T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares during the last quarter. Finally, Burney Co. acquired a new stake in shares of T. Rowe Price Group during the second quarter worth $20,938,000. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 484 shares of the business’s 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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. 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.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TROW shares. Evercore ISI raised their target price on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays initiated coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective on the stock. Finally, TD Cowen lowered their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $112.36.

T. Rowe Price Group Stock Up 1.9 %

Shares of NASDAQ:TROW traded up $1.99 during mid-day trading on Friday, reaching $108.47. 739,131 shares of the stock were exchanged, compared to its average volume of 1,144,817. The company has a market cap of $24.15 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.72 and a beta of 1.41. The stock’s 50 day simple moving average is $107.17 and its 200-day simple moving average is $112.72. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $2.02 earnings per share. Analysts anticipate that T. Rowe Price Group, Inc. will post 8.96 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.57%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

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.