Martingale Asset Management L P Takes $446,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Martingale Asset Management L P purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,096 shares of the asset manager’s stock, valued at approximately $446,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Forsta AP Fonden boosted its holdings in shares of T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after acquiring an additional 17,100 shares during the period. Savant Capital LLC boosted its stake in T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after purchasing an additional 8,816 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in T. Rowe Price Group during the 2nd quarter valued at about $15,907,000. Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group during the third quarter valued at about $516,000. Finally, Cetera Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 156.3% in the first quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock worth $2,051,000 after buying an additional 10,260 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

TROW has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. 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 research report on Wednesday, October 9th. Finally, TD Cowen decreased their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Trading Down 0.2 %

Shares of NASDAQ TROW opened at $123.43 on Wednesday. The stock’s 50-day moving average is $114.35 and its 200 day moving average is $112.92. The stock has a market cap of $27.42 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.74 and a beta of 1.42. T. Rowe Price Group, Inc. has a 1-year low of $97.50 and a 1-year high of $124.83.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period 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. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.39 EPS 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. Shareholders of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.02%. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction 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 trade represents a 3.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 8.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.