Grimes & Company Inc. Purchases 2,507 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Grimes & Company Inc. boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,304 shares of the asset manager’s stock after acquiring an additional 2,507 shares during the quarter. Grimes & Company Inc. owned 0.08% of T. Rowe Price Group worth $20,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its position in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares during the period. Lynx Investment Advisory purchased a new stake in T. Rowe Price Group during the second quarter valued at about $29,000. Hexagon Capital Partners LLC boosted its position 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 valued at $32,000 after buying an additional 104 shares during the period. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group during the second quarter worth about $36,000. Finally, Versant Capital Management Inc boosted its holdings in shares of 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 purchasing an additional 284 shares during the period. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TROW shares. TD Cowen dropped their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Barclays increased their target price on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.00.

T. Rowe Price Group Price Performance

TROW stock traded up $1.73 during trading on Thursday, reaching $111.26. The company had a trading volume of 70,629 shares, compared to its average volume of 1,245,136. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27. The business has a 50 day moving average of $107.95 and a 200 day moving average of $111.90. The company has a market cap of $24.77 billion, a P/E ratio of 12.93, a PEG ratio of 1.86 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business posted $2.02 EPS. T. Rowe Price Group’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts expect that T. Rowe Price Group, Inc. will post 9.09 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is 58.56%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group 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 shares were 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 of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.