Kestra Investment Management LLC Invests $611,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kestra Investment Management LLC acquired a new position in 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 acquired 5,610 shares of the asset manager's stock, valued at approximately $611,000.

Other hedge funds have also added to or reduced their stakes in the company. Insight Folios Inc raised its position in shares of T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager's stock valued at $285,000 after purchasing an additional 90 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of T. Rowe Price Group by 7.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager's stock valued at $153,000 after purchasing an additional 92 shares during the period. Keystone Financial Services raised its position in shares of T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager's stock valued at $205,000 after purchasing an additional 92 shares during the period. Nvwm LLC raised its position in shares of T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager's stock valued at $490,000 after purchasing an additional 95 shares during the period. Finally, Strategy Asset Managers LLC grew its stake in T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager's stock valued at $236,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TROW. Evercore ISI boosted 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. The Goldman Sachs Group reduced their price objective on shares of 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. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research note on Monday, November 4th. Barclays boosted their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an "underweight" rating in a research note on Monday, November 4th. Finally, Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an "equal weight" rating in a research note 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $115.55.

T. Rowe Price Group Price Performance

TROW stock traded down $0.32 during midday trading on Monday, reaching $123.84. The company had a trading volume of 779,749 shares, compared to its average volume of 1,267,947. T. Rowe Price Group, Inc. has a 1 year low of $97.50 and a 1 year high of $124.83. The company has a market capitalization of $27.51 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.74 and a beta of 1.41. The firm has a 50-day moving average price of $113.76 and a 200-day moving average price of $112.82.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data 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. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The firm's revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group's dividend payout ratio is currently 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 stock in a transaction 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 completion of the sale, the vice president now owns 123,624 shares of the company's stock, valued at $12,712,255.92. This represents a 8.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company's stock, 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 owned by insiders.

About T. Rowe Price Group

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.