First Trust Direct Indexing L.P. Has $530,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

First Trust Direct Indexing L.P. trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,864 shares of the asset manager’s stock after selling 1,358 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in T. Rowe Price Group were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Insight Folios Inc raised its stake in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 90 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of T. Rowe Price Group by 7.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock valued at $153,000 after buying an additional 92 shares during the period. Paulson Wealth Management Inc. increased its position in shares of T. Rowe Price Group by 4.9% during the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after buying an additional 95 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 worth $49,000 after buying an additional 99 shares in the last quarter. Finally, Private Wealth Partners LLC boosted its position in shares of 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 acquiring an additional 100 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $112.06 on Friday. The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.71 and a beta of 1.41. The business has a 50 day moving average of $108.32 and a 200 day moving average of $111.69. T. Rowe Price Group, Inc. has a 1-year low of $90.02 and a 1-year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business posted $2.17 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.16 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm 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 4.43%. T. Rowe Price Group’s payout ratio is 58.56%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of analyst reports. TD Cowen decreased their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Morgan Stanley lifted their price objective on T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.00.

Insider Activity

In other news, 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 value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.