Tidal Investments LLC Has $713,000 Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Tidal Investments LLC boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,541 shares of the asset manager’s stock after purchasing an additional 513 shares during the period. Tidal Investments LLC’s holdings in T. Rowe Price Group were worth $713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC raised its stake in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares during the last quarter. Hexagon Capital Partners LLC grew its position in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Family Firm Inc. acquired a new stake in T. Rowe Price Group during the 2nd quarter valued at $36,000. True Wealth Design LLC bought a new position in T. Rowe Price Group in the 3rd quarter valued at $37,000. Finally, Larson Financial Group LLC boosted its stake in T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. StockNews.com raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Morgan Stanley upped their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $117.00.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $116.12 on Friday. The company has a 50 day moving average price of $117.50 and a two-hundred day moving average price of $113.22. The company has a market capitalization of $25.80 billion, a PE ratio of 12.70, a PEG ratio of 1.73 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81.

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 (EPS) for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 EPS. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 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.