Aigen Investment Management LP Acquires Shares of 4,741 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Aigen Investment Management LP bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, HoldingsChannel reports. The firm bought 4,741 shares of the asset manager’s stock, valued at approximately $516,000.

Several other hedge funds have also modified their holdings of the business. Iron Horse Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the period. Lynx Investment Advisory purchased a new position in T. Rowe Price Group in the second quarter valued at about $29,000. Hexagon Capital Partners LLC lifted its position in shares of 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 valued at $32,000 after acquiring an additional 104 shares during the period. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc grew its holdings in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $119.80 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $96.46 and a fifty-two week high of $122.27. The company has a market capitalization 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. The stock has a fifty day moving average of $110.11 and a two-hundred day moving average of $112.06.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm posted $2.17 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.14%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TROW. The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Barclays increased their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $115.55.

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.