T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Boosted by HighTower Advisors LLC

HighTower Advisors LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 55.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,338 shares of the asset manager's stock after purchasing an additional 47,180 shares during the period. HighTower Advisors LLC owned approximately 0.06% of T. Rowe Price Group worth $14,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TROW. Iron Horse Wealth Management LLC increased its holdings in shares of 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 valued at $25,000 after acquiring an additional 110 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at about $36,000. True Wealth Design LLC purchased a new position in T. Rowe Price Group during the 3rd quarter worth approximately $37,000. Finally, Larson Financial Group LLC lifted its stake in T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock valued at $38,000 after buying an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on TROW. Wells Fargo & Company lifted their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Barclays boosted 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 report on Monday, November 4th. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of "Hold" and a consensus price target of $115.55.

T. Rowe Price Group Trading Down 0.7 %

TROW traded down $0.86 during trading on Friday, hitting $123.83. 1,092,898 shares of the company's stock were exchanged, compared to its average volume of 1,249,661. The firm has a market cap of $27.51 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. The stock has a 50 day moving average price of $115.26 and a 200 day moving average price of $113.06. 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 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 business had revenue of $1.79 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.17 earnings per share. Analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.01%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 54.27%.

Insider Activity

In other T. Rowe Price Group 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 transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company's stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company's stock.

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.