Paloma Partners Management Co Invests $473,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Paloma Partners Management Co bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm bought 4,340 shares of the asset manager's stock, valued at approximately $473,000.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after acquiring an additional 231,286 shares during the period. Victory Capital Management Inc. lifted its stake in T. Rowe Price Group by 3.8% during the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager's stock valued at $396,207,000 after acquiring an additional 124,686 shares during the period. American Century Companies Inc. lifted its stake in T. Rowe Price Group by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager's stock valued at $289,750,000 after acquiring an additional 107,086 shares during the period. Provident Trust Co. lifted its stake in T. Rowe Price Group by 0.3% during the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager's stock valued at $261,185,000 after acquiring an additional 7,905 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in T. Rowe Price Group by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager's stock valued at $202,768,000 after acquiring an additional 47,998 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut 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. Morgan Stanley lifted their target price 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. Finally, The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a report on Thursday, October 3rd. Four 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, the company has an average rating of "Hold" and an average target price of $115.55.

Insider Activity

In other 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 transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. The trade was a 8.83 % decrease in their position. The sale 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 dated Friday, September 13th. The shares were 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. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Up 1.4 %

Shares of T. Rowe Price Group stock traded up $1.69 during trading hours on Thursday, reaching $124.69. 1,760,651 shares of the company's stock were exchanged, compared to its average volume of 1,269,304. T. Rowe Price Group, Inc. has a 1 year low of $97.50 and a 1 year high of $124.94. The company has a market capitalization of $27.70 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 1.74 and a beta of 1.42. The business has a fifty day moving average of $114.67 and a two-hundred day moving average of $112.99.

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 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 3.98%. T. Rowe Price Group's payout ratio is 54.27%.

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.