Tudor Financial Inc. Invests $668,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Tudor Financial Inc. purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,130 shares of the asset manager's stock, valued at approximately $668,000.

Several other hedge funds also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC grew its position in T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC grew its position in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after acquiring an additional 104 shares during the period. Family Firm Inc. purchased a new position in T. Rowe Price Group in the second quarter worth approximately $36,000. True Wealth Design LLC purchased a new position in T. Rowe Price Group in the third quarter worth approximately $37,000. Finally, Larson Financial Group LLC grew its position 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 worth $38,000 after acquiring an additional 312 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded down $0.75 during mid-day trading on Thursday, hitting $120.96. The company had a trading volume of 1,087,306 shares, compared to its average volume of 1,268,661. The company has a market capitalization of $26.87 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.75 and a beta of 1.42. T. Rowe Price Group, Inc. has a 1-year low of $98.36 and a 1-year high of $125.81. The business's 50-day simple moving average is $116.16 and its 200 day simple moving average is $113.20.

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 for the quarter, beating analysts' consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the firm earned $2.17 earnings per share. T. Rowe Price Group's quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group's dividend payout ratio is presently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. 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 T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

TROW has been the subject of several research analyst reports. Morgan Stanley raised their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. TD Cowen lowered their price target on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Monday, November 4th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an "equal weight" rating in a research report on Thursday. Barclays raised their price target on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "underweight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of "Hold" and a consensus target price of $117.09.

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.