T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Increased by Townsquare Capital LLC

Townsquare Capital LLC lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,839 shares of the asset manager’s stock after buying an additional 299 shares during the quarter. Townsquare Capital LLC’s holdings in T. Rowe Price Group were worth $527,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. 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 acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of 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 valued at $32,000 after purchasing an additional 104 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $36,000. Larson Financial Group LLC lifted its holdings in shares of T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 160 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $123.00 on Thursday. The stock’s 50 day moving average price is $114.67 and its 200 day moving average price is $112.99. The stock has a market cap of $27.33 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.74 and a beta of 1.42. T. Rowe Price Group, Inc. has a 12 month low of $97.50 and a 12 month high of $124.83.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the business earned $2.17 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.03%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on 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. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Barclays increased their price objective 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. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Evercore ISI raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, TD Cowen reduced their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $115.55.

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.