Farther Finance Advisors LLC Purchases 1,128 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Farther Finance Advisors LLC raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.0% during the third quarter, Holdings Channel reports. The institutional investor owned 4,764 shares of the asset manager’s stock after buying an additional 1,128 shares during the quarter. Farther Finance Advisors LLC’s holdings in T. Rowe Price Group were worth $519,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TROW. Norden Group LLC bought a new position in T. Rowe Price Group in the 1st quarter valued at $420,000. Texas Permanent School Fund Corp boosted its position in shares of T. Rowe Price Group by 0.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 51,560 shares of the asset manager’s stock worth $6,286,000 after purchasing an additional 266 shares during the last quarter. Empirical Finance LLC boosted its position in shares of T. Rowe Price Group by 3.5% in the 1st quarter. Empirical Finance LLC now owns 8,176 shares of the asset manager’s stock worth $997,000 after purchasing an additional 274 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of 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 worth $7,990,000 after purchasing an additional 22,533 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of T. Rowe Price Group by 62.4% in the 1st quarter. Empowered Funds LLC now owns 25,779 shares of the asset manager’s stock worth $3,143,000 after purchasing an additional 9,910 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a research report on Monday. Keefe, Bruyette & Woods restated 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 report on Monday, July 29th. Evercore ISI raised their price objective on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company raised their price objective on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $114.73.

T. Rowe Price Group Price Performance

TROW opened at $121.31 on Thursday. The business’s 50-day moving average price is $108.79 and its two-hundred day moving average price is $111.82. T. Rowe Price Group, Inc. has a 1 year low of $90.02 and a 1 year high of $122.27. The company has a market capitalization of $26.95 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $2.17 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.27 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the firm’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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.