Symphony Financial Ltd. Co. Increases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Symphony Financial Ltd. Co. lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,395 shares of the asset manager’s stock after buying an additional 1,631 shares during the period. Symphony Financial Ltd. Co.’s holdings in T. Rowe Price Group were worth $1,126,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TROW. MCF Advisors LLC raised its stake in shares of T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after purchasing an additional 92 shares during the period. Massmutual Trust Co. FSB ADV increased its stake 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 worth $153,000 after acquiring an additional 92 shares during the last quarter. Paulson Wealth Management Inc. increased its stake in T. Rowe Price Group by 4.9% in the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after acquiring an additional 95 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in T. Rowe Price Group by 29.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after acquiring an additional 99 shares during the last quarter. Finally, Private Wealth Partners LLC increased its stake in T. Rowe Price Group by 3.1% in the 2nd quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock worth $381,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research analyst reports. TD Cowen decreased their target price on 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. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Evercore ISI increased their price objective on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, StockNews.com lowered 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 assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $113.00.

T. Rowe Price Group Trading Down 1.0 %

T. Rowe Price Group stock opened at $112.92 on Wednesday. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.93 and a beta of 1.41. The stock has a fifty day simple moving average of $107.88 and a two-hundred day simple moving average of $111.92. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business 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 firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.02 EPS. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.08 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on 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 in the company, valued at approximately $12,712,255.92. The trade was 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 accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction 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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.