Keystone Financial Planning Inc. Increases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Keystone Financial Planning Inc. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,846 shares of the asset manager's stock after buying an additional 4,914 shares during the quarter. T. Rowe Price Group makes up approximately 2.3% of Keystone Financial Planning Inc.'s investment portfolio, making the stock its 8th largest position. Keystone Financial Planning Inc.'s holdings in T. Rowe Price Group were worth $7,608,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. First Trust Direct Indexing L.P. raised its holdings in T. Rowe Price Group by 13.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,861 shares of the asset manager's stock worth $593,000 after purchasing an additional 576 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in T. Rowe Price Group during the 1st quarter worth approximately $1,008,000. Van ECK Associates Corp raised its holdings in T. Rowe Price Group by 4.3% during the 1st quarter. Van ECK Associates Corp now owns 37,813 shares of the asset manager's stock worth $4,610,000 after purchasing an additional 1,552 shares during the last quarter. Norden Group LLC bought a new position in T. Rowe Price Group during the 1st quarter worth approximately $420,000. Finally, Retirement Systems of Alabama raised its holdings in T. Rowe Price Group by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 49,418 shares of the asset manager's stock worth $6,025,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

TROW traded up $2.20 during mid-day trading on Friday, reaching $112.06. 1,739,074 shares of the stock were exchanged, compared to its average volume of 1,172,977. The stock has a market capitalization of $24.94 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. The company has a 50 day moving average price of $108.32 and a two-hundred day moving average price of $111.69. T. Rowe Price Group, Inc. has a 1 year low of $90.02 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.17 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.16 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.43%. T. Rowe Price Group's dividend payout ratio is 58.56%.

Analyst Ratings Changes

Several research analysts have issued reports on TROW shares. Evercore ISI raised their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an "in-line" rating in a report on Friday, October 4th. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a "hold" rating for the company in a research note on Monday, July 29th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an "underweight" rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of "Hold" and a consensus price target of $113.00.

Insiders Place Their Bets

In related news, 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 transaction, the vice president now directly owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 transaction, the vice president now directly owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % 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.

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.