D.A. Davidson & CO. Has $11.71 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

D.A. Davidson & CO. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.6% in the third quarter, HoldingsChannel reports. The firm owned 107,484 shares of the asset manager’s stock after purchasing an additional 4,695 shares during the period. D.A. Davidson & CO.’s holdings in T. Rowe Price Group were worth $11,708,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after acquiring an additional 1,054,461 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the period. Dimensional Fund Advisors LP increased its stake in T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after purchasing an additional 196,565 shares during the period. Finally, Burney Co. bought a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $20,938,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 0.8 %

Shares of NASDAQ TROW opened at $123.95 on Wednesday. The company has a market capitalization of $27.54 billion, a PE ratio of 13.56, a PEG ratio of 1.73 and a beta of 1.41. The stock’s 50 day moving average price is $112.86 and its 200-day moving average price is $112.61. T. Rowe Price Group, Inc. has a twelve month low of $96.48 and a twelve month high of $124.31.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued 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 yield of 4.00%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore ISI increased their price target on 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. Wells Fargo & Company upped their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Barclays upped 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of 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. Four equities 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.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $115.55.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 in the company, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.