Greenwood Capital Associates LLC Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Greenwood Capital Associates LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,762 shares of the asset manager’s stock after acquiring an additional 349 shares during the quarter. Greenwood Capital Associates LLC’s holdings in T. Rowe Price Group were worth $1,390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Iron Horse Wealth Management LLC raised its holdings in 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 worth $25,000 after buying an additional 110 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $29,000. Hexagon Capital Partners LLC grew its holdings in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Family Firm Inc. acquired a new position in T. Rowe Price Group in the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc raised its position in shares of 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 acquiring an additional 284 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’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 sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’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 completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % 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 Stock Up 0.4 %

NASDAQ:TROW opened at $112.49 on Tuesday. The company has a market capitalization of $25.04 billion, a PE ratio of 12.31, a P/E/G ratio of 1.75 and a beta of 1.41. The stock’s 50 day moving average price is $108.38 and its 200 day moving average price is $111.71. T. Rowe Price Group, Inc. has a 52-week low of $90.02 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data 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. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.46% and a net margin of 30.35%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $2.17 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.16 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.41%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Analyst Ratings Changes

Several research firms have weighed in on TROW. Barclays boosted their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.73.

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.