T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by ABLE Financial Group LLC

ABLE Financial Group LLC lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,580 shares of the asset manager’s stock after acquiring an additional 3,025 shares during the quarter. ABLE Financial Group LLC’s holdings in T. Rowe Price Group were worth $2,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TROW. Norden Group LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth $420,000. Texas Permanent School Fund Corp lifted its stake in shares of T. Rowe Price Group by 0.5% in the first quarter. Texas Permanent School Fund Corp now owns 51,560 shares of the asset manager’s stock worth $6,286,000 after buying an additional 266 shares during the last quarter. Empirical Finance LLC lifted its position in shares of T. Rowe Price Group by 3.5% during the 1st quarter. Empirical Finance LLC now owns 8,176 shares of the asset manager’s stock worth $997,000 after purchasing an additional 274 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in T. Rowe Price Group by 52.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during the period. Finally, Empowered Funds LLC increased its position in shares of T. Rowe Price Group by 62.4% during the first quarter. Empowered Funds LLC now owns 25,779 shares of the asset manager’s stock valued at $3,143,000 after purchasing an additional 9,910 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.6 %

TROW traded down $0.71 during trading on Friday, hitting $119.35. The company’s stock had a trading volume of 251,396 shares, compared to its average volume of 1,258,693. The stock’s fifty day moving average price is $108.79 and its 200-day moving average price is $111.82. The firm has a market capitalization of $26.51 billion, a P/E ratio of 13.14, a PEG ratio of 1.76 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $90.02 and a twelve month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm posted $2.17 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.32 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business 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 $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays increased their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday. The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI increased 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 report on Thursday. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $115.09.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction 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 in the company, valued at $12,712,255.92. The trade was a 0.00 % 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 insiders.

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.