Provident Trust Co. Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Provident Trust Co. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,397,728 shares of the asset manager's stock after purchasing an additional 7,905 shares during the period. T. Rowe Price Group comprises 4.7% of Provident Trust Co.'s portfolio, making the stock its 9th largest holding. Provident Trust Co. owned about 1.08% of T. Rowe Price Group worth $261,185,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager's stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager's stock valued at $185,810,000 after buying an additional 220,105 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager's stock valued at $52,032,000 after buying an additional 196,565 shares in the last quarter. Burney Co. bought a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $20,938,000. Finally, Canada Pension Plan Investment Board raised its position in T. Rowe Price Group by 1,328.0% during the second quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager's stock valued at $18,681,000 after acquiring an additional 150,665 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company'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 sale, the vice president now owns 123,624 shares of the company's stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm's 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 transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company'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 sale, the insider now 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. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a research report on Thursday, October 3rd. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Evercore ISI increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a report on Thursday. Finally, Morgan Stanley boosted their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an "equal weight" rating in a report on Monday, November 4th. Four 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.com, T. Rowe Price Group presently has a consensus rating of "Hold" and an average target price of $115.09.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded down $2.44 during midday trading on Friday, hitting $117.62. The company had a trading volume of 1,383,414 shares, compared to its average volume of 1,263,906. T. Rowe Price Group, Inc. has a 1-year low of $90.02 and a 1-year high of $122.27. The business's 50 day simple moving average is $109.33 and its two-hundred day simple moving average is $111.92. The stock has a market cap of $26.13 billion, a PE ratio of 12.87, a P/E/G ratio of 1.76 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $2.17 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.32 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.22%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 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.