LMR Partners LLP Invests $249,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

LMR Partners LLP bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 2,288 shares of the asset manager’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also made changes to their positions in TROW. International Assets Investment Management LLC lifted its position in shares of T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares during the last quarter. AQR Capital Management LLC lifted its position 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 worth $52,032,000 after purchasing an additional 196,565 shares during the last quarter. Burney Co. bought a new stake in shares of T. Rowe Price Group during the second quarter worth $20,938,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of T. Rowe Price Group by 1,328.0% during the second quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock worth $18,681,000 after purchasing an additional 150,665 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TROW has been the subject of several research analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Morgan Stanley lifted their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company lifted their price objective 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. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.55.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’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 value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This 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 Price Performance

TROW opened at $117.52 on Thursday. The business’s 50-day moving average is $111.62 and its two-hundred day moving average is $112.33. T. Rowe Price Group, Inc. has a 1 year low of $96.46 and a 1 year high of $122.27. The firm has a market capitalization of $26.11 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 4.22%. T. Rowe Price Group’s payout ratio is 54.27%.

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.