Benjamin Edwards Inc. Grows Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Benjamin Edwards Inc. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 9,315.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,594 shares of the asset manager's stock after buying an additional 79,738 shares during the period. Benjamin Edwards Inc.'s holdings in T. Rowe Price Group were worth $8,779,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Paloma Partners Management Co acquired a new stake in shares of T. Rowe Price Group in the third quarter worth approximately $473,000. Kestra Investment Management LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter worth $611,000. Erste Asset Management GmbH purchased a new stake in shares of T. Rowe Price Group during the third quarter worth $5,771,000. True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $37,000. Finally, Acropolis Investment Management LLC purchased a new position in shares of T. Rowe Price Group in the third quarter worth about $102,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

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 firm's stock in a transaction dated 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 transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 484 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $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 currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on TROW shares. Morgan Stanley increased 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 report on Monday, November 4th. Barclays lifted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an "underweight" rating in a research report on Monday, November 4th. TD Cowen dropped their target price 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. Evercore ISI boosted their price target 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. Finally, The Goldman Sachs Group cut 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 report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $115.55.

T. Rowe Price Group Price Performance

Shares of TROW traded down $0.69 during midday trading on Tuesday, reaching $122.95. The stock had a trading volume of 335,303 shares, compared to its average volume of 1,263,737. The company has a market cap of $27.31 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.74 and a beta of 1.42. The company's fifty day simple moving average is $113.76 and its two-hundred day simple moving average is $112.82. T. Rowe Price Group, Inc. has a 1-year low of $97.50 and a 1-year high of $124.83.

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 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $2.17 EPS. On average, sell-side 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 business also recently declared 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 4.03%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group's dividend payout ratio is presently 54.27%.

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.