Martingale Asset Management L P Purchases New Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Martingale Asset Management L P purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,096 shares of the asset manager's stock, valued at approximately $446,000.

Several other institutional investors also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC raised its holdings in shares of T. Rowe Price Group by 90.9% in the 3rd 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 during the period. Hexagon Capital Partners LLC grew its stake 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 valued at $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. acquired a new stake in T. Rowe Price Group during the 2nd quarter valued at approximately $36,000. Larson Financial Group LLC grew its stake in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock valued at $38,000 after purchasing an additional 312 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake 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 in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling 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 dated 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 completion of the sale, the vice president now owns 123,624 shares of the company's stock, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business's stock in a transaction dated 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 directly owns 13,939 shares of the company's stock, valued at $1,459,831.47. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Price Performance

Shares of TROW traded down $0.42 during midday trading on Wednesday, reaching $123.00. The stock had a trading volume of 1,102,646 shares, compared to its average volume of 1,317,554. T. Rowe Price Group, Inc. has a 52 week low of $97.50 and a 52 week high of $124.83. The firm's 50 day moving average price is $114.35 and its 200-day moving average price is $112.92. The company has a market capitalization of $27.33 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.74 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its 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 analysts' expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 EPS. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 4.03%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 54.27%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TROW. Wells Fargo & Company raised their price objective on 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. The Goldman Sachs Group decreased 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 report on Thursday, October 3rd. Morgan Stanley lifted their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. Evercore ISI lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Finally, TD Cowen decreased their target price 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 research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and a consensus 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.