Quest Partners LLC Grows Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Quest Partners LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 442,900.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,430 shares of the asset manager’s stock after buying an additional 4,429 shares during the quarter. Quest Partners LLC’s holdings in T. Rowe Price Group were worth $483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after acquiring an additional 124,686 shares during the period. American Century Companies Inc. lifted its position in shares of T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after purchasing an additional 107,086 shares during the period. Provident Trust Co. boosted its stake in shares of T. Rowe Price Group by 0.3% during the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after purchasing an additional 7,905 shares in the last quarter. ProShare Advisors LLC increased its holdings in T. Rowe Price Group by 2.5% during the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after buying an additional 40,490 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after buying an additional 220,105 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company lifted their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Barclays lifted their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $115.55.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s 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 owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $119.84 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $96.48 and a fifty-two week high of $122.27. The firm has a market capitalization of $26.62 billion, a PE ratio of 13.11, a P/E/G ratio of 1.68 and a beta of 1.41. The stock’s 50-day simple moving average is $112.20 and its 200-day simple moving average is $112.44.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $2.17 EPS. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.14%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

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.