Atria Investments Inc Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Atria Investments Inc boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,103 shares of the asset manager’s stock after purchasing an additional 400 shares during the quarter. Atria Investments Inc’s holdings in T. Rowe Price Group were worth $665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC boosted its stake in T. Rowe Price Group by 90.9% in 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 period. Lynx Investment Advisory purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $29,000. Hexagon Capital Partners LLC raised its holdings 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 worth $32,000 after acquiring an additional 104 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc raised its holdings in shares of T. Rowe Price Group by 660.5% during 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 in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 0.6 %

TROW stock opened at $117.95 on Wednesday. The business’s fifty day simple moving average is $111.35 and its two-hundred day simple moving average is $112.29. T. Rowe Price Group, Inc. has a twelve month low of $96.46 and a twelve month high of $122.27. The firm has a market cap of $26.20 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.68 and a beta of 1.41.

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, 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 business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $2.17 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Research analysts expect that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s payout ratio is currently 54.27%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Barclays upped their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a report on Monday, November 4th. Evercore ISI upped their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley increased their price target on 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. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $115.55.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated 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 directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is 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.