Verity Asset Management Inc. Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Verity Asset Management Inc. grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 70.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,367 shares of the asset manager's stock after buying an additional 4,294 shares during the quarter. Verity Asset Management Inc.'s holdings in T. Rowe Price Group were worth $1,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TROW. Iron Horse Wealth Management LLC boosted its holdings in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock valued at $25,000 after acquiring an additional 110 shares in the last quarter. Lynx Investment Advisory acquired a new position in T. Rowe Price Group in the second quarter valued at $29,000. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after purchasing an additional 104 shares during the period. Family Firm Inc. bought a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its stake in T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock worth $38,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the 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 transaction, the insider now owns 13,939 shares of the company's stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the business'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 sale, the insider now directly owns 13,939 shares of the company's stock, valued at $1,459,831.47. This 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 Stock Performance

T. Rowe Price Group stock traded down $1.74 during mid-day trading on Friday, reaching $118.32. The company's stock had a trading volume of 556,832 shares, compared to its average volume of 1,259,983. The company has a market capitalization of $26.29 billion, a P/E ratio of 13.14, a PEG ratio of 1.76 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12-month low of $90.02 and a 12-month high of $122.27. The firm's fifty day moving average price is $108.79 and its two-hundred day moving average price is $111.82.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.17 EPS. On average, research analysts predict 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 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 dividend on an annualized basis and a dividend yield of 4.19%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 54.27%.

Analysts Set New Price Targets

TROW has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an "equal weight" rating in a report on Monday. JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research report on Monday. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. The Goldman Sachs Group dropped 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. Finally, Wells Fargo & Company increased their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $115.09.

About T. Rowe Price Group

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.