Empowered Funds LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 380.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,178 shares of the asset manager's stock after acquiring an additional 96,727 shares during the period. Empowered Funds LLC owned 0.05% of T. Rowe Price Group worth $13,309,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of TROW. Cornercap Investment Counsel Inc. bought a new position in shares of T. Rowe Price Group during the 3rd quarter valued at approximately $1,584,000. CIBC Asset Management Inc raised its stake in T. Rowe Price Group by 6.8% during the third quarter. CIBC Asset Management Inc now owns 38,064 shares of the asset manager's stock valued at $4,146,000 after purchasing an additional 2,423 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of T. Rowe Price Group by 6.0% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,814 shares of the asset manager's stock worth $633,000 after buying an additional 327 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of T. Rowe Price Group by 2.7% in the 3rd quarter. Metis Global Partners LLC now owns 12,805 shares of the asset manager's stock worth $1,395,000 after buying an additional 338 shares during the last quarter. Finally, Plato Investment Management Ltd raised its position in shares of T. Rowe Price Group by 1.5% during the 3rd quarter. Plato Investment Management Ltd now owns 14,872 shares of the asset manager's stock valued at $1,618,000 after buying an additional 223 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.
Insider Activity
In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.
Analysts Set New Price Targets
TROW has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a research report on Monday. TD Cowen lowered their price target on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Monday, November 4th. 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 report on Monday, November 4th. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a report on Monday, November 4th. Finally, Barclays upped their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an "underweight" rating in a report 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. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Hold" and a consensus target price of $115.55.
Read Our Latest Analysis on TROW
T. Rowe Price Group Trading Down 0.9 %
Shares of NASDAQ TROW traded down $1.03 during trading hours on Friday, reaching $118.77. The stock had a trading volume of 1,318,808 shares, compared to its average volume of 1,266,377. The business's fifty day moving average price is $110.43 and its two-hundred day moving average price is $112.12. The firm has a market cap of $26.39 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52-week low of $96.46 and a 52-week high of $122.27.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The company's revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. T. Rowe Price Group's payout ratio is currently 54.27%.
T. Rowe Price Group Company Profile
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Free Report)
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.
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