T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Holdings Increased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 25,624 shares of the asset manager’s stock after buying an additional 474 shares during the quarter. Verdence Capital Advisors LLC’s holdings in T. Rowe Price Group were worth $2,791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of TROW. Iron Horse Wealth Management LLC boosted its position in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares during the period. Lynx Investment Advisory bought a new position in shares of T. Rowe Price Group in the second quarter worth $29,000. Hexagon Capital Partners LLC increased its holdings in shares of 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 valued at $32,000 after purchasing an additional 104 shares during the period. Family Firm Inc. bought a new stake in shares of T. Rowe Price Group during the second quarter valued at about $36,000. Finally, Versant Capital Management Inc lifted its holdings 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 worth $38,000 after purchasing an additional 284 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. 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. Finally, Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Trading Down 2.0 %

Shares of TROW stock opened at $117.62 on Friday. The stock’s fifty day simple moving average is $109.33 and its 200-day simple moving average is $111.92. The company has a market capitalization of $26.13 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.76 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $90.02 and a 1-year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.17 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.32 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Insider Activity

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 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 of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jessica M. Hiebler sold 484 shares of the company’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 completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.