4,741 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by Aigen Investment Management LP

Aigen Investment Management LP acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,741 shares of the asset manager's stock, valued at approximately $516,000.

Several other hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of T. Rowe Price Group by 14.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,674 shares of the asset manager's stock valued at $326,000 after acquiring an additional 334 shares during the period. QRG Capital Management Inc. raised its holdings in shares of T. Rowe Price Group by 8.0% in the first quarter. QRG Capital Management Inc. now owns 5,059 shares of the asset manager's stock valued at $617,000 after buying an additional 376 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of T. Rowe Price Group by 9.8% during the first quarter. Russell Investments Group Ltd. now owns 122,763 shares of the asset manager's stock worth $14,943,000 after buying an additional 10,944 shares during the period. State Board of Administration of Florida Retirement System increased its position in T. Rowe Price Group by 3.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager's stock valued at $29,105,000 after acquiring an additional 9,519 shares during the period. Finally, HBK Sorce Advisory LLC increased its position in T. Rowe Price Group by 8.9% in the 1st quarter. HBK Sorce Advisory LLC now owns 3,123 shares of the asset manager's stock valued at $381,000 after acquiring an additional 256 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a research note on Thursday, October 3rd. Evercore ISI lifted 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 report on Thursday, November 7th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 9th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Finally, TD Cowen dropped their price target 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. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $115.55.

T. Rowe Price Group Stock Performance

TROW traded down $1.03 on Friday, hitting $118.77. 1,318,808 shares of the company were exchanged, compared to its average volume of 1,266,377. The business's fifty day moving average is $110.43 and its 200 day moving average is $112.12. T. Rowe Price Group, Inc. has a fifty-two week low of $96.46 and a fifty-two week high of $122.27. The firm has a market capitalization of $26.39 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share 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 revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.18%. 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 Buying and Selling

In related news, 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 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. The trade was a 8.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Company 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.