Chicago Partners Investment Group LLC Acquires Shares of 2,064 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Chicago Partners Investment Group LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,064 shares of the asset manager’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TROW. Norden Group LLC acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth about $420,000. Daiwa Securities Group Inc. increased its stake in T. Rowe Price Group by 9.3% in the first quarter. Daiwa Securities Group Inc. now owns 22,023 shares of the asset manager’s stock valued at $2,685,000 after purchasing an additional 1,880 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in T. Rowe Price Group by 0.5% during the first 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 in the last quarter. Empirical Finance LLC lifted its position in shares of T. Rowe Price Group by 3.5% during the 1st quarter. Empirical Finance LLC now owns 8,176 shares of the asset manager’s stock worth $997,000 after buying an additional 274 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings 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 valued at $7,990,000 after buying an additional 22,533 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $114.52 on Wednesday. The firm has a market cap of $25.49 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $90.02 and a 1-year high of $122.27. The firm’s fifty day moving average price is $108.52 and its 200 day moving average price is $111.75.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 business had revenue of $1.79 billion for 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 20.46%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.17 earnings per share. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.16 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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 issued a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.33%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Evercore ISI raised their price target 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. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a research report on Monday. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $114.73.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s 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 sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other T. Rowe Price Group news, 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 transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred 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 of the company’s stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company 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.