EP Wealth Advisors LLC Grows Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

EP Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 146.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,969 shares of the asset manager's stock after acquiring an additional 5,332 shares during the quarter. EP Wealth Advisors LLC's holdings in T. Rowe Price Group were worth $977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Iron Horse Wealth Management LLC raised its holdings in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock valued at $32,000 after acquiring an additional 104 shares during the period. Family Firm Inc. bought a new stake in T. Rowe Price Group during the second quarter valued at approximately $36,000. True Wealth Design LLC purchased a new position in shares of T. Rowe Price Group during the third quarter worth approximately $37,000. Finally, Larson Financial Group LLC raised its stake in shares of T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock worth $38,000 after acquiring an additional 312 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Down 1.1 %

Shares of NASDAQ TROW traded down $1.32 on Wednesday, hitting $121.71. The company had a trading volume of 1,363,549 shares, compared to its average volume of 1,269,419. T. Rowe Price Group, Inc. has a 12-month low of $97.50 and a 12-month high of $125.81. The business has a 50 day moving average of $115.87 and a two-hundred day moving average of $113.14. The firm has a market capitalization of $27.04 billion, a P/E ratio of 13.39, a PEG ratio of 1.75 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.17 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.08%. T. Rowe Price Group's dividend payout ratio is presently 54.27%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TROW. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Evercore ISI raised 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 report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective 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. 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, Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $116.00.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was 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 $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company's stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

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.