T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,818 shares of the asset manager's stock after purchasing an additional 5,910 shares during the period. Advisors Asset Management Inc.'s holdings in T. Rowe Price Group were worth $7,278,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TROW. Insight Folios Inc raised its position in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager's stock valued at $285,000 after buying an additional 90 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in T. Rowe Price Group by 7.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager's stock worth $153,000 after purchasing an additional 92 shares during the period. Keystone Financial Services raised its position in T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager's stock worth $205,000 after purchasing an additional 92 shares during the period. Nvwm LLC raised its position in T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager's stock worth $490,000 after purchasing an additional 95 shares during the period. Finally, Strategy Asset Managers LLC grew its holdings in T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager's stock worth $236,000 after acquiring an additional 95 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred 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 owns 13,939 shares of the company's stock, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 directly 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Up 0.5 %

Shares of TROW traded up $0.63 during midday trading on Thursday, hitting $118.15. 458,529 shares of the company's stock traded hands, compared to its average volume of 1,261,625. The stock has a market capitalization of $26.25 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41. The firm's fifty day moving average is $111.62 and its 200-day moving average is $112.33. T. Rowe Price Group, Inc. has a 1 year low of $96.48 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm earned $2.17 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group's payout ratio is 54.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TROW. The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a report on Thursday, October 3rd. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Wells Fargo & Company raised their price target on shares of 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. Morgan Stanley lifted their target price 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. Finally, JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $115.55.

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.