5,610 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,610 shares of the asset manager’s stock, valued at approximately $611,000.

A number of other large investors also recently made changes to their positions in TROW. Forsta AP Fonden grew its position in T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Savant Capital LLC grew its holdings in shares of T. Rowe Price Group by 36.6% during the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after acquiring an additional 8,816 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of T. Rowe Price Group in the second quarter worth $15,907,000. Aigen Investment Management LP acquired a new position in shares of T. Rowe Price Group in the third quarter worth $516,000. Finally, Cetera Advisors LLC raised its holdings in shares of T. Rowe Price Group by 156.3% during the first quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock worth $2,051,000 after acquiring an additional 10,260 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.3 %

NASDAQ TROW opened at $123.84 on Monday. T. Rowe Price Group, Inc. has a 1 year low of $97.50 and a 1 year high of $124.83. The company has a fifty day simple moving average of $113.76 and a 200 day simple moving average of $112.82. The company has a market cap of $27.51 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.74 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations 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 company earned $2.17 earnings per share. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 8.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, 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. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company boosted their price target on 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 increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Morgan Stanley increased their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $115.55.

T. Rowe Price Group 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.