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

Main Street Financial Solutions LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,676 shares of the asset manager’s stock after buying an additional 124 shares during the quarter. Main Street Financial Solutions LLC’s holdings in T. Rowe Price Group were worth $400,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Forsta AP Fonden grew its stake in shares of T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Mizuho Markets Americas LLC lifted its holdings in shares of T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after purchasing an additional 42,949 shares during the period. Savant Capital LLC lifted 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 worth $3,792,000 after purchasing an additional 8,816 shares during the period. CANADA LIFE ASSURANCE Co grew its position in T. Rowe Price Group by 4.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock valued at $20,890,000 after buying an additional 6,780 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of T. Rowe Price Group by 3.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager’s stock worth $29,105,000 after acquiring an additional 9,519 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.1 %

Shares of TROW stock opened at $119.80 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $96.46 and a twelve month high of $122.27. The company has a market capitalization of $26.61 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.68 and a beta of 1.41. The firm has a 50-day moving average price of $110.11 and a 200 day moving average price of $112.06.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating 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 business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the business posted $2.17 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared 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 dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction 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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,230,772.27. Following the sale, the vice president now directly 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 disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TROW shares. Barclays lifted their price objective 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. Deutsche Bank Aktiengesellschaft upped 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. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. The Goldman Sachs Group decreased 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. Finally, Morgan Stanley increased their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Four equities research 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, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $115.55.

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.