PYA Waltman Capital LLC Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

PYA Waltman Capital LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,682 shares of the asset manager’s stock after buying an additional 901 shares during the period. PYA Waltman Capital LLC’s holdings in T. Rowe Price Group were worth $1,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC raised its position in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC lifted its stake in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Family Firm Inc. purchased a new position in T. Rowe Price Group in the 2nd quarter valued at about $36,000. True Wealth Design LLC acquired a new stake in T. Rowe Price Group in the 3rd quarter worth about $37,000. Finally, Larson Financial Group LLC increased its stake in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $123.83 on Monday. T. Rowe Price Group, Inc. has a one year low of $97.50 and a one year high of $125.81. The firm has a market cap of $27.51 billion, a PE ratio of 13.55, a PEG ratio of 1.75 and a beta of 1.42. The firm’s 50 day moving average price is $115.26 and its 200-day moving average price is $113.06.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.17 EPS. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis 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 is presently 54.27%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. TD Cowen dropped their target price on shares of 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. Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI increased their price objective 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. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.55.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

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.