2,342 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Code Waechter LLC

Code Waechter LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 2,342 shares of the asset manager’s stock, valued at approximately $255,000.

Several other large investors also recently modified their holdings of TROW. First Affirmative Financial Network raised its holdings in T. Rowe Price Group by 15.9% during the third quarter. First Affirmative Financial Network now owns 2,065 shares of the asset manager’s stock worth $225,000 after acquiring an additional 283 shares in the last quarter. Wynn Capital LLC increased its holdings in shares of T. Rowe Price Group by 9.5% during the third quarter. Wynn Capital LLC now owns 5,282 shares of the asset manager’s stock worth $575,000 after purchasing an additional 460 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in T. Rowe Price Group by 437.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,597 shares of the asset manager’s stock valued at $174,000 after purchasing an additional 1,300 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its stake in T. Rowe Price Group by 2.8% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 118,002 shares of the asset manager’s stock valued at $12,854,000 after acquiring an additional 3,224 shares during the last quarter. Finally, Unison Advisors LLC boosted its stake in T. Rowe Price Group by 1.1% in the third quarter. Unison Advisors LLC now owns 16,909 shares of the asset manager’s stock valued at $1,842,000 after buying an additional 180 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was 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 approximately $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the 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 in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business’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 sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 0.00 % 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 Price Performance

NASDAQ:TROW traded up $0.98 during trading hours on Friday, hitting $108.98. The stock had a trading volume of 1,072,497 shares, compared to its average volume of 1,252,860. The firm has a market capitalization of $24.26 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.78 and a beta of 1.41. The company has a 50 day simple moving average of $106.75 and a two-hundred day simple moving average of $112.35. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.02 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.55%. T. Rowe Price Group’s dividend payout ratio is presently 58.56%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TROW shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. TD Cowen reduced their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.64.

T. Rowe Price Group Company 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.