Gilliland Jeter Wealth Management LLC Acquires Shares of 707 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Gilliland Jeter Wealth Management LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 707 shares of the asset manager’s stock, valued at approximately $77,000.

Other large investors have also modified their holdings of the company. Vest Financial LLC grew its position in T. Rowe Price Group by 9.8% in the third quarter. Vest Financial LLC now owns 429,827 shares of the asset manager’s stock valued at $46,821,000 after acquiring an additional 38,204 shares in the last quarter. OLD National Bancorp IN boosted its stake in shares of T. Rowe Price Group by 0.9% in the third quarter. OLD National Bancorp IN now owns 65,111 shares of the asset manager’s stock valued at $7,093,000 after purchasing an additional 599 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in shares of T. Rowe Price Group by 1.7% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 148,984 shares of the asset manager’s stock valued at $16,229,000 after purchasing an additional 2,530 shares during the period. DMC Group LLC grew its holdings in T. Rowe Price Group by 7.2% during the 3rd quarter. DMC Group LLC now owns 5,667 shares of the asset manager’s stock valued at $617,000 after purchasing an additional 379 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in T. Rowe Price Group by 302.3% during the 3rd quarter. Blue Trust Inc. now owns 2,615 shares of the asset manager’s stock worth $301,000 after buying an additional 1,965 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent analyst reports. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. TD Cowen cut their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group reduced their price target 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, Barclays boosted their price objective on T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.00.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % 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.

T. Rowe Price Group Stock Up 2.1 %

Shares of NASDAQ TROW opened at $115.63 on Monday. The firm’s 50-day moving average price is $107.54 and its two-hundred day moving average price is $111.96. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The stock has a market capitalization of $25.82 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.93 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.02 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.08 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.29%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

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.