Bridgewater Associates LP Buys 14,103 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bridgewater Associates LP raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 794.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,879 shares of the asset manager’s stock after purchasing an additional 14,103 shares during the quarter. Bridgewater Associates LP’s holdings in T. Rowe Price Group were worth $1,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Forsta AP Fonden raised its holdings in shares of 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 acquiring an additional 17,100 shares in the last quarter. Savant Capital LLC raised its holdings in shares of T. Rowe Price Group by 36.6% during the second 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 bought a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $15,907,000. Aigen Investment Management LP bought a new position in shares of T. Rowe Price Group during the third quarter valued at approximately $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 valued at $2,051,000 after acquiring an additional 10,260 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the 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 transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 8.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TROW shares. Barclays upped their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research note on Monday, November 4th. Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Morgan Stanley increased their target price on 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. Finally, Wells Fargo & Company increased their price objective on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $123.84 on Monday. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. The stock has a 50 day moving average price of $113.76 and a 200-day moving average price of $112.82. T. Rowe Price Group, Inc. has a one year low of $97.50 and a one year high of $124.83.

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 (EPS) 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 firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.39 earnings per share 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. Investors 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 yield of 4.01%. T. Rowe Price Group’s dividend payout ratio (DPR) 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.