Aigen Investment Management LP Takes $516,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Aigen Investment Management LP purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,741 shares of the asset manager’s stock, valued at approximately $516,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Iron Horse Wealth Management LLC boosted its holdings in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares during the period. Lynx Investment Advisory purchased a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $29,000. Hexagon Capital Partners LLC lifted its holdings in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $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 approximately $36,000. Finally, Versant Capital Management Inc grew its stake in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TROW. Wells Fargo & Company lifted 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. Keefe, Bruyette & Woods reissued 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 report on Monday, July 29th. TD Cowen reduced 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 report on Monday, November 4th. JPMorgan Chase & Co. dropped 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 report on Monday, November 4th. Finally, Barclays lifted their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group Price Performance

Shares of TROW opened at $119.80 on Friday. The firm has a fifty day moving average price of $110.11 and a 200 day moving average price of $112.06. The stock has a market cap of $26.61 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.72 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $96.46 and a 1-year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.17 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.33 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. Stockholders of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.14%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was 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 of the company’s stock, 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. Corporate insiders own 2.00% of the company’s stock.

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.