True Wealth Design LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

True Wealth Design LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 336 shares of the asset manager’s stock, valued at approximately $37,000.

Several other institutional investors have also modified their holdings of TROW. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of T. Rowe Price Group by 3.8% during the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after buying an additional 124,686 shares in the last quarter. American Century Companies Inc. increased its stake in shares of T. Rowe Price Group by 4.5% in the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after buying an additional 107,086 shares during the last quarter. Provident Trust Co. raised its holdings in T. Rowe Price Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after acquiring an additional 7,905 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in T. Rowe Price Group by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after acquiring an additional 47,998 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock 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 stock has a market capitalization of $27.51 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.74 and a beta of 1.41. The stock’s fifty day moving average is $113.76 and its two-hundred day moving average is $112.82.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm posted $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.01%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their target price on shares of 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. Evercore ISI upped their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Barclays boosted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Finally, 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. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $115.55.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly 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. Corporate insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.