International Assets Investment Management LLC Purchases 1,054,461 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

International Assets Investment Management LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7,992.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,067,655 shares of the asset manager’s stock after buying an additional 1,054,461 shares during the period. International Assets Investment Management LLC’s holdings in T. Rowe Price Group were worth $116,300,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Iron Horse Wealth Management LLC raised its stake in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares during the last quarter. Lynx Investment Advisory bought a new position in T. Rowe Price Group during the second quarter worth $29,000. Hexagon Capital Partners LLC raised its stake in 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 worth $32,000 after buying an additional 104 shares during the last quarter. Family Firm Inc. bought a new stake in T. Rowe Price Group in the second quarter valued at $36,000. Finally, Versant Capital Management Inc increased its stake in T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $111.33 on Friday. The firm has a 50-day moving average of $108.02 and a 200-day moving average of $111.90. The company has a market cap of $24.86 billion, a PE ratio of 13.22, a PEG ratio of 1.86 and a beta of 1.41. 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 released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the firm posted $2.02 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.09 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

Analyst Ratings Changes

TROW has been the subject of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI lifted their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lifted their price target 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. Finally, TD Cowen decreased their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Four investment 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, the company currently has an average rating of “Hold” and a consensus price target of $113.00.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated 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 approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were 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 owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was 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 owned by corporate insiders.

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.