Western Pacific Wealth Management LP Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Western Pacific Wealth Management LP lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 141.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,535 shares of the asset manager’s stock after buying an additional 900 shares during the quarter. Western Pacific Wealth Management LP’s holdings in T. Rowe Price Group were worth $167,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Insight Folios Inc boosted its stake in T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 90 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of T. Rowe Price Group by 7.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock valued at $153,000 after buying an additional 92 shares during the last quarter. Nvwm LLC increased its holdings in T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after buying an additional 95 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of T. Rowe Price Group by 29.9% in the second 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 period. Finally, Private Wealth Partners LLC raised its stake in T. Rowe Price Group by 3.1% during the 2nd quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock valued at $381,000 after buying an additional 100 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on TROW shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. The Goldman Sachs Group reduced 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 report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a report on Monday. Evercore ISI increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note 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, the company currently has an average rating of “Hold” and an average price target of $115.09.

T. Rowe Price Group Trading Down 1.0 %

TROW opened at $120.06 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $90.02 and a 12 month high of $122.27. The stock has a 50-day moving average of $108.79 and a 200 day moving average of $111.82. The firm has a market cap of $26.67 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.76 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the company earned $2.17 earnings per share. T. Rowe Price Group’s revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.32 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.13%. T. Rowe Price Group’s payout ratio is 54.27%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated 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 directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.