T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,778 shares of the asset manager’s stock after buying an additional 900 shares during the period. Public Sector Pension Investment Board’s holdings in T. Rowe Price Group were worth $4,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Tidal Investments LLC lifted its holdings in T. Rowe Price Group by 21.4% in the 1st quarter. Tidal Investments LLC now owns 6,303 shares of the asset manager’s stock valued at $768,000 after purchasing an additional 1,110 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of T. Rowe Price Group by 175.6% in the first quarter. Cetera Investment Advisers now owns 43,261 shares of the asset manager’s stock worth $5,274,000 after buying an additional 27,565 shares in the last quarter. Cetera Advisors LLC grew its stake in T. Rowe Price Group by 156.3% during the 1st 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. EverSource Wealth Advisors LLC raised its holdings in T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 160 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in T. Rowe Price Group by 70.7% in the 2nd quarter. GAMMA Investing LLC now owns 3,057 shares of the asset manager’s stock worth $353,000 after purchasing an additional 1,266 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on TROW shares. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Morgan Stanley raised 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 research report on Monday, November 4th. Evercore ISI boosted 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. Wells Fargo & Company lifted their price target on shares of 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. Finally, Barclays raised their target price 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. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $115.55.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’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 in the company, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $123.64 on Tuesday. The company has a market capitalization of $27.47 billion, a P/E ratio of 13.53, a PEG ratio of 1.74 and a beta of 1.41. T. Rowe Price Group, Inc. has a fifty-two week low of $97.50 and a fifty-two week high of $124.83. The stock has a 50-day simple moving average of $113.76 and a 200-day simple moving average of $112.82.

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 net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business earned $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 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 business 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. This represents a $4.96 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 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.