Quantbot Technologies LP Invests $3.32 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Quantbot Technologies LP bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,491 shares of the asset manager’s stock, valued at approximately $3,321,000.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the period. Victory Capital Management Inc. lifted its holdings in T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after acquiring an additional 124,686 shares during the period. American Century Companies Inc. boosted its position in shares of T. Rowe Price Group by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after purchasing an additional 107,086 shares in the last quarter. Provident Trust Co. increased its holdings in shares of T. Rowe Price Group by 0.3% in the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after purchasing an additional 7,905 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after purchasing an additional 47,998 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.2 %

Shares of T. Rowe Price Group stock opened at $124.16 on Thursday. The firm has a market cap of $27.58 billion, a PE ratio of 13.58, a P/E/G ratio of 1.73 and a beta of 1.41. T. Rowe Price Group, Inc. has a fifty-two week low of $96.50 and a fifty-two week high of $124.83. The business’s fifty day moving average is $113.18 and its two-hundred day moving average is $112.69.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business posted $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.99%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. 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 for the company in a report on Thursday, October 3rd. Barclays lifted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a report on Monday, November 4th. TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.