Bridgewater Associates LP Grows Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bridgewater Associates LP raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 794.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,879 shares of the asset manager’s stock after buying an additional 14,103 shares during the period. Bridgewater Associates LP’s holdings in T. Rowe Price Group were worth $1,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TROW. RBO & Co. LLC grew its stake in T. Rowe Price Group by 5.0% during the 3rd quarter. RBO & Co. LLC now owns 82,435 shares of the asset manager’s stock worth $8,980,000 after purchasing an additional 3,960 shares in the last quarter. Townsquare Capital LLC grew its stake in T. Rowe Price Group by 6.6% during the 3rd quarter. Townsquare Capital LLC now owns 4,839 shares of the asset manager’s stock worth $527,000 after purchasing an additional 299 shares in the last quarter. Brooklyn Investment Group acquired a new position in T. Rowe Price Group during the 3rd quarter worth $43,000. Quantbot Technologies LP acquired a new position in T. Rowe Price Group during the 3rd quarter worth $3,321,000. Finally, D.A. Davidson & CO. grew its stake in T. Rowe Price Group by 4.6% during the 3rd quarter. D.A. Davidson & CO. now owns 107,484 shares of the asset manager’s stock worth $11,708,000 after purchasing an additional 4,695 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TROW has been the subject of several analyst reports. Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. 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, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $123.84 on Monday. T. Rowe Price Group, Inc. has a fifty-two week low of $97.50 and a fifty-two week high of $124.83. The company has a market capitalization of $27.51 billion, a P/E ratio of 13.55, a PEG ratio of 1.74 and a beta of 1.41. The stock has a 50-day simple moving average of $113.76 and a 200-day simple moving average of $112.82.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.17 EPS. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 8.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.