Qsemble Capital Management LP Raises Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Qsemble Capital Management LP raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 172.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,042 shares of the asset manager’s stock after buying an additional 21,567 shares during the quarter. Qsemble Capital Management LP’s holdings in T. Rowe Price Group were worth $3,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TROW. Iron Horse Wealth Management LLC increased its position in shares of 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 purchasing an additional 110 shares during the last quarter. Lynx Investment Advisory bought a new stake in T. Rowe Price Group in the second quarter worth $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. bought a new position in shares of T. Rowe Price Group during the second quarter valued at about $36,000. Finally, Versant Capital Management Inc increased its holdings in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after buying an additional 284 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Up 1.9 %

TROW stock traded up $2.29 during midday trading on Monday, reaching $122.13. 147,127 shares of the company’s stock traded hands, compared to its average volume of 1,261,680. The stock’s 50-day moving average is $112.20 and its 200 day moving average is $112.44. The stock has a market cap of $27.13 billion, a P/E ratio of 13.11, a PEG ratio of 1.70 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52-week low of $96.48 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm earned $2.17 EPS. The company’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 9.33 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. Shareholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.06%. T. Rowe Price Group’s payout ratio is currently 54.27%.

Wall Street Analyst Weigh In

TROW has been the subject of several analyst reports. Wells Fargo & Company increased their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group dropped 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Barclays increased their target price 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, Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $115.55.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.