Toronto Dominion Bank Purchases 494 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Toronto Dominion Bank lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,927 shares of the asset manager’s stock after purchasing an additional 494 shares during the quarter. Toronto Dominion Bank’s holdings in T. Rowe Price Group were worth $8,162,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC raised its holdings 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 worth $25,000 after buying an additional 110 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of 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 worth $32,000 after acquiring an additional 104 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $36,000. True Wealth Design LLC bought a new position in T. Rowe Price Group in the 3rd quarter valued at about $37,000. Finally, Larson Financial Group LLC lifted its position in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $119.54 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The firm’s 50-day simple moving average is $116.67 and its two-hundred day simple moving average is $113.24. The firm has a market cap of $26.56 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.73 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last posted 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 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 the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business earned $2.17 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.15%. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TROW. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Evercore ISI increased their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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 investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $117.09.

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.