Horan Capital Advisors LLC. Has $2.06 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Horan Capital Advisors LLC. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 18,893 shares of the asset manager’s stock after selling 332 shares during the period. Horan Capital Advisors LLC.’s holdings in T. Rowe Price Group were worth $2,058,000 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. Iron Horse Wealth Management LLC increased its stake in shares of 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 worth $25,000 after purchasing an additional 110 shares during the last quarter. Lynx Investment Advisory bought a new position in T. Rowe Price Group during the second quarter worth about $29,000. Hexagon Capital Partners LLC increased its position in T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Family Firm Inc. bought a new stake in T. Rowe Price Group in the second quarter valued at approximately $36,000. Finally, Versant Capital Management Inc raised its stake in 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 valued at $38,000 after buying an additional 284 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW opened at $118.66 on Tuesday. The stock has a 50-day moving average of $111.07 and a 200-day moving average of $112.25. T. Rowe Price Group, Inc. has a one year low of $96.46 and a one year high of $122.27. The company has a market cap of $26.36 billion, a PE ratio of 12.98, a P/E/G ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business earned $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a yield of 4.18%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TROW shares. Wells Fargo & Company boosted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $115.55.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the 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 completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were 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 approximately $12,712,255.92. This trade represents a 8.83 % 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.

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.