T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,834 shares of the asset manager’s stock after purchasing an additional 121 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in T. Rowe Price Group were worth $309,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC increased its position in T. Rowe Price Group by 90.9% during 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 $29,000. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 54.7% in the 3rd 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 in the last quarter. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $36,000. Finally, Versant Capital Management Inc boosted its holdings in T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after buying an additional 284 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on TROW shares. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Morgan Stanley increased their target price on T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, 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 note on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.00.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded up $0.77 during trading on Monday, reaching $112.10. The company had a trading volume of 354,913 shares, compared to its average volume of 1,243,868. The firm has a market capitalization of $24.95 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The firm’s fifty day moving average is $108.08 and its 200 day moving average is $111.77. T. Rowe Price Group, Inc. has a twelve month low of $88.55 and a twelve month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.02 earnings per share. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.16 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.42%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.56%.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s 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 sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company 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.