Sigma Planning Corp Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sigma Planning Corp increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,676 shares of the asset manager’s stock after acquiring an additional 1,140 shares during the period. Sigma Planning Corp’s holdings in T. Rowe Price Group were worth $1,490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TROW. Iron Horse Wealth Management LLC increased its stake in shares of 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 purchasing an additional 110 shares in the last quarter. Lynx Investment Advisory purchased a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $29,000. Hexagon Capital Partners LLC lifted its position in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the second quarter worth approximately $36,000. Finally, Versant Capital Management Inc increased its position in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity 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 dated 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 transaction, the vice president now directly 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 SEC, which is available through this link. In other news, insider Jessica M. Hiebler sold 484 shares of the 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 sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on 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 transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $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.

Analyst Ratings Changes

Several brokerages have issued reports on TROW. TD Cowen lowered their target price 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. Evercore ISI upped their price objective 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. Wells Fargo & Company raised their target price on shares of 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. 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. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group Trading Up 0.1 %

Shares of NASDAQ:TROW opened at $118.07 on Wednesday. The business has a 50-day moving average price of $109.56 and a 200 day moving average price of $111.99. T. Rowe Price Group, Inc. has a 12-month low of $91.40 and a 12-month high of $122.27. The company has a market capitalization of $26.23 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.71 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 analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.17 EPS. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.32 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.20%. T. Rowe Price Group’s payout ratio 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.