Assetmark Inc. Raises Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Assetmark Inc. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 481,238 shares of the asset manager's stock after buying an additional 11,945 shares during the quarter. Assetmark Inc. owned about 0.22% of T. Rowe Price Group worth $52,421,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Insight Folios Inc raised its holdings in T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager's stock worth $285,000 after purchasing an additional 90 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in T. Rowe Price Group by 7.4% during the second 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 last quarter. Nvwm LLC raised its holdings in T. Rowe Price Group by 2.2% during the third 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 last quarter. EverSource Wealth Advisors LLC raised its holdings in T. Rowe Price Group by 29.9% during the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager's stock worth $49,000 after purchasing an additional 99 shares during the last quarter. Finally, Private Wealth Partners LLC raised its holdings in T. Rowe Price Group by 3.1% during the second quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager's stock worth $381,000 after purchasing an additional 100 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, 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 transaction of $50,689.32. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other T. Rowe Price Group news, 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 transaction of $50,689.32. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Down 2.0 %

Shares of NASDAQ:TROW traded down $2.44 during midday trading on Friday, reaching $117.62. The company's stock had a trading volume of 1,383,414 shares, compared to its average volume of 1,357,255. The firm has a market cap of $26.13 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $90.02 and a 1 year high of $122.27. The business has a 50 day moving average price of $109.33 and a 200 day moving average price of $111.92.

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 EPS for the quarter, beating analysts' consensus estimates 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 revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.32 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group's dividend payout ratio is currently 54.27%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TROW shares. Morgan Stanley lifted their price objective 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 objective on T. Rowe Price Group from $113.00 to $115.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Barclays boosted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an "underweight" rating in a report on Monday, November 4th. Wells Fargo & Company boosted 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, TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" 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 given a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $115.09.

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.