Meeder Asset Management Inc. Purchases 6,669 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Meeder Asset Management Inc. raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 260.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,227 shares of the asset manager's stock after purchasing an additional 6,669 shares during the quarter. Meeder Asset Management Inc.'s holdings in T. Rowe Price Group were worth $1,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TROW. Forsta AP Fonden boosted its holdings in shares of T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager's stock valued at $8,083,000 after acquiring an additional 17,100 shares in the last quarter. Savant Capital LLC boosted its position in shares of T. Rowe Price Group by 36.6% during the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager's stock worth $3,792,000 after purchasing an additional 8,816 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager's stock worth $20,890,000 after buying an additional 6,780 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in T. Rowe Price Group in the second quarter valued at about $15,907,000. Finally, Cetera Advisors LLC lifted its position in shares of T. Rowe Price Group by 156.3% during the 1st quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager's stock valued at $2,051,000 after acquiring an additional 10,260 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Barclays raised their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an "underweight" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on 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. Deutsche Bank Aktiengesellschaft raised their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Finally, StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $115.55.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 484 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Down 0.4 %

TROW stock traded down $0.43 during trading on Wednesday, reaching $117.52. 1,132,302 shares of the stock were exchanged, compared to its average volume of 1,265,271. The company has a market capitalization of $26.11 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $96.46 and a twelve month high of $122.27. The stock has a 50 day simple moving average of $111.35 and a 200-day simple moving average of $112.29.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results 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 analysts' expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.17 EPS. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced 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 of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.22%. T. Rowe Price Group's payout ratio is 54.27%.

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.