500 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Eastern Bank

Eastern Bank acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, HoldingsChannel.com reports. The firm acquired 500 shares of the asset manager’s stock, valued at approximately $54,000.

A number of other institutional investors have also recently added to or reduced their stakes in TROW. Massmutual Trust Co. FSB ADV raised its position in T. Rowe Price Group by 7.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock valued at $153,000 after purchasing an additional 92 shares during the period. Paulson Wealth Management Inc. raised its position in T. Rowe Price Group by 4.9% in the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 95 shares during the period. EverSource Wealth Advisors LLC raised its position in T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 99 shares during the period. Private Wealth Partners LLC raised its position in T. Rowe Price Group by 3.1% in the second quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock valued at $381,000 after purchasing an additional 100 shares during the period. Finally, Bourne Lent Asset Management Inc. raised its position in T. Rowe Price Group by 1.1% in the third quarter. Bourne Lent Asset Management Inc. now owns 9,067 shares of the asset manager’s stock valued at $988,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 484 shares of the company’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 completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jessica M. Hiebler sold 484 shares of the company’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 completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 123,624 shares of the company’s stock, 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. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

TROW opened at $111.33 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.86 and a beta of 1.41. The business has a fifty day moving average price of $108.02 and a 200 day moving average price of $111.90.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the firm earned $2.02 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.09 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays lifted their target price on T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group cut their price objective on 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. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $113.00.

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.