T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 78.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 132,200 shares of the asset manager’s stock after buying an additional 58,058 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of T. Rowe Price Group worth $14,401,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Leelyn Smith LLC increased its position in shares of T. Rowe Price Group by 5.1% in the 3rd quarter. Leelyn Smith LLC now owns 21,093 shares of the asset manager’s stock valued at $2,298,000 after purchasing an additional 1,015 shares during the last quarter. Icon Wealth Advisors LLC increased its holdings in T. Rowe Price Group by 6,433.7% in the third quarter. Icon Wealth Advisors LLC now owns 117,084 shares of the asset manager’s stock valued at $12,754,000 after buying an additional 115,292 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after buying an additional 231,286 shares in the last quarter. Banco Santander S.A. lifted its holdings in T. Rowe Price Group by 2.5% during the 3rd quarter. Banco Santander S.A. now owns 94,930 shares of the asset manager’s stock worth $10,341,000 after buying an additional 2,295 shares during the last quarter. Finally, Cypress Capital Group boosted its position in shares of T. Rowe Price Group by 17.6% during the 3rd quarter. Cypress Capital Group now owns 4,620 shares of the asset manager’s stock worth $503,000 after acquiring an additional 690 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 2.6 %

T. Rowe Price Group stock opened at $122.97 on Tuesday. The stock has a 50 day moving average of $112.54 and a two-hundred day moving average of $112.52. T. Rowe Price Group, Inc. has a twelve month low of $96.48 and a twelve month high of $123.29. The stock has a market capitalization of $27.32 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.70 and a beta of 1.41.

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. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $2.17 EPS. Equities 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 company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.03%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, Wells Fargo & Company boosted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group 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.