Twelve Points Wealth Management LLC Buys 494 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Twelve Points Wealth Management LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,452 shares of the asset manager’s stock after purchasing an additional 494 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in T. Rowe Price Group were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after acquiring an additional 124,686 shares during the period. American Century Companies Inc. boosted its holdings in T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock valued at $289,750,000 after purchasing an additional 107,086 shares during the period. ProShare Advisors LLC boosted its holdings in T. Rowe Price Group by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after purchasing an additional 40,490 shares during the period. Dimensional Fund Advisors LP grew its position in shares of T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of T. Rowe Price Group by 0.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 654,139 shares of the asset manager’s stock worth $75,429,000 after purchasing an additional 4,701 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TROW shares. Evercore ISI lifted their price objective on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. TD Cowen cut their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Finally, Wells Fargo & Company raised their price objective on shares of 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. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $112.82.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred 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 directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the vice president now directly owns 123,624 shares in the company, 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. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $111.58 on Thursday. The firm has a market cap of $24.84 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.84 and a beta of 1.41. The firm’s fifty day moving average is $107.17 and its 200 day moving average is $112.08. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the business posted $2.02 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.04 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.45%. T. Rowe Price Group’s payout ratio is currently 58.56%.

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.