Catalyst Capital Advisors LLC Buys New Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Catalyst Capital Advisors LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, Holdings Channel.com reports. The fund bought 756 shares of the asset manager’s stock, valued at approximately $82,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its holdings in T. Rowe Price Group by 52.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during the last quarter. Forsta AP Fonden increased its holdings in T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in T. Rowe Price Group by 90.0% in the 1st quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after purchasing an additional 42,949 shares during the last quarter. Savant Capital LLC grew its stake in shares of T. Rowe Price Group by 36.6% in the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after acquiring an additional 8,816 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of T. Rowe Price Group by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after acquiring an additional 6,780 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the company’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 sale, 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 disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of TROW opened at $121.31 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $90.02 and a 1-year high of $122.27. The stock has a market cap of $26.95 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.41. The firm has a fifty day moving average price of $108.79 and a 200 day moving average price of $111.82.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the company earned $2.17 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.27 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.09%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Analyst Upgrades and Downgrades

Several research firms have commented on TROW. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday. TD Cowen dropped their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a research note on Monday. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $114.73.

T. Rowe Price Group 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.