Pathstone Holdings LLC Raises Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pathstone Holdings LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,535 shares of the asset manager’s stock after acquiring an additional 894 shares during the period. Pathstone Holdings LLC’s holdings in T. Rowe Price Group were worth $2,999,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in 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 period. Dimensional Fund Advisors LP raised its holdings in T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares during the period. AQR Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 77.2% in the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after acquiring an additional 196,565 shares during the period. Burney Co. purchased a new position in shares of T. Rowe Price Group in the second quarter valued at $20,938,000. Finally, Canada Pension Plan Investment Board lifted its holdings in T. Rowe Price Group by 1,328.0% during the 2nd 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 in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TROW. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Evercore ISI raised their price target 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group reduced their target price on 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. Finally, JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group Stock Up 1.4 %

T. Rowe Price Group stock opened at $119.84 on Monday. The firm has a fifty day simple moving average of $112.20 and a two-hundred day simple moving average of $112.44. T. Rowe Price Group, Inc. has a twelve month low of $96.48 and a twelve month high of $122.27. The company has a market capitalization of $26.62 billion, a PE ratio of 13.11, a P/E/G ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.17 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.14%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated 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 owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 8.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the 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 completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.