National Bank of Canada FI Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

National Bank of Canada FI grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 14.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,453 shares of the asset manager's stock after purchasing an additional 22,705 shares during the period. National Bank of Canada FI owned about 0.08% of T. Rowe Price Group worth $20,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. Iron Horse Wealth Management LLC increased its holdings in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC increased its stake 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 buying an additional 104 shares during the period. Family Firm Inc. acquired a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $36,000. True Wealth Design LLC bought a new position in T. Rowe Price Group in the 3rd quarter valued at approximately $37,000. Finally, Larson Financial Group LLC boosted its position in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock worth $38,000 after buying an additional 312 shares during the period. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on 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. Barclays raised their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "underweight" rating in a research report on Monday. Evercore ISI upped their target price on 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. TD Cowen lowered their price target on shares of 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. Finally, JPMorgan Chase & Co. reduced 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. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group has an average rating of "Hold" and an average target price of $116.00.

T. Rowe Price Group Stock Down 0.5 %

TROW stock traded down $0.56 during midday trading on Tuesday, hitting $123.03. The company's stock had a trading volume of 1,514,629 shares, compared to its average volume of 1,269,022. The stock has a market cap of $27.33 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.75 and a beta of 1.42. The stock's 50-day moving average price is $115.55 and its 200 day moving average price is $113.11. T. Rowe Price Group, Inc. has a 1 year low of $97.50 and a 1 year high of $125.81.

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, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm posted $2.17 earnings per share. The company's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a yield of 4.03%. T. Rowe Price Group's dividend payout ratio is presently 54.27%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 13,939 shares of the company's stock, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group 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.