Y Intercept Hong Kong Ltd Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Y Intercept Hong Kong Ltd raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.8% in the third quarter, Holdings Channel reports. The institutional investor owned 5,895 shares of the asset manager’s stock after purchasing an additional 1,133 shares during the period. Y Intercept Hong Kong Ltd’s holdings in T. Rowe Price Group were worth $642,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Insight Folios Inc grew its position in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after acquiring an additional 90 shares during the period. Keystone Financial Services boosted its position in T. Rowe Price Group by 5.1% during the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares in the last quarter. Nvwm LLC grew its holdings in T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 95 shares during the period. Strategy Asset Managers LLC increased its position in shares of T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after buying an additional 95 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of T. Rowe Price Group by 29.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $119.54 on Friday. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The stock has a market cap of $26.56 billion, a PE ratio of 13.08, a P/E/G ratio of 1.73 and a beta of 1.42. The stock has a 50 day moving average price of $116.67 and a 200 day moving average price of $113.24.

T. Rowe Price Group (NASDAQ:TROW) last issued its 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 business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the company earned $2.17 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Evercore ISI lifted 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 research note on Thursday, November 7th. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday. 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 report on Monday, November 11th. Finally, TD Cowen reduced their target price 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. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $117.09.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

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.