ABLE Financial Group LLC Acquires 3,025 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

ABLE Financial Group LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,580 shares of the asset manager’s stock after buying an additional 3,025 shares during the quarter. ABLE Financial Group LLC’s holdings in T. Rowe Price Group were worth $2,242,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Insight Folios Inc raised its position in T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after buying an additional 90 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in T. Rowe Price Group by 7.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock valued at $153,000 after acquiring an additional 92 shares during the last quarter. Nvwm LLC boosted its stake in T. Rowe Price Group by 2.2% during the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after buying an additional 95 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in T. Rowe Price Group by 29.9% during the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after purchasing an additional 99 shares during the last quarter. Finally, Private Wealth Partners LLC lifted its holdings in T. Rowe Price Group by 3.1% in the second quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock valued at $381,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other 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 sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at $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. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Trading Down 0.6 %

NASDAQ:TROW traded down $0.71 during trading hours on Friday, hitting $119.35. The stock had a trading volume of 251,396 shares, compared to its average volume of 1,258,693. The company has a market cap of $26.51 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.76 and a beta of 1.41. The business has a 50 day simple moving average of $108.79 and a two-hundred day simple moving average of $111.82. T. Rowe Price Group, Inc. has a 1-year low of $90.02 and a 1-year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.17 earnings per share. Research analysts expect that T. Rowe Price Group, Inc. will post 9.32 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.16%. 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

TROW has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday. Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday. TD Cowen lowered their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company upped their price objective on T. Rowe Price Group from $109.00 to $112.00 and gave the stock 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 issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $115.09.

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.