T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,624 shares of the asset manager’s stock after acquiring an additional 474 shares during the period. Verdence Capital Advisors LLC’s holdings in T. Rowe Price Group were worth $2,791,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new position in T. Rowe Price Group in the 1st quarter valued at $420,000. Texas Permanent School Fund Corp grew its position in T. Rowe Price Group by 0.5% during the first quarter. Texas Permanent School Fund Corp now owns 51,560 shares of the asset manager’s stock worth $6,286,000 after buying an additional 266 shares during the period. Empirical Finance LLC increased its holdings in T. Rowe Price Group by 3.5% in the first quarter. Empirical Finance LLC now owns 8,176 shares of the asset manager’s stock valued at $997,000 after buying an additional 274 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after acquiring an additional 22,533 shares during the period. Finally, Empowered Funds LLC increased its stake in T. Rowe Price Group by 62.4% in the 1st quarter. Empowered Funds LLC now owns 25,779 shares of the asset manager’s stock valued at $3,143,000 after purchasing an additional 9,910 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TROW shares. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a report on Monday, November 4th. Evercore ISI lifted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday. Morgan Stanley increased their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Barclays upped their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday, November 4th. Finally, TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $115.09.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $117.62 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $90.02 and a 12 month high of $122.27. The company has a market cap of $26.13 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.41. The stock’s 50-day moving average is $109.33 and its 200-day moving average is $111.92.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm posted $2.17 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.32 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business 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 $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Activity

In related news, 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 transaction, the insider now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred 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 sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the 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 transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $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. 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.