King Luther Capital Management Corp Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

King Luther Capital Management Corp lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,742 shares of the asset manager’s stock after acquiring an additional 387 shares during the quarter. King Luther Capital Management Corp’s holdings in T. Rowe Price Group were worth $2,913,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TROW. Natixis acquired a new position in shares of T. Rowe Price Group in the 1st quarter valued at approximately $952,000. Toronto Dominion Bank raised its holdings in T. Rowe Price Group by 83.4% in the first quarter. Toronto Dominion Bank now owns 129,674 shares of the asset manager’s stock valued at $15,810,000 after acquiring an additional 58,987 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in T. Rowe Price Group by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 295,449 shares of the asset manager’s stock valued at $36,022,000 after acquiring an additional 2,323 shares during the last quarter. Morse Asset Management Inc grew its holdings in T. Rowe Price Group by 57.5% during the 1st quarter. Morse Asset Management Inc now owns 17,420 shares of the asset manager’s stock worth $2,124,000 after acquiring an additional 6,361 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of T. Rowe Price Group by 9.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 161,979 shares of the asset manager’s stock worth $19,748,000 after purchasing an additional 13,468 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction 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 in the company, valued at approximately $1,459,831.47. This trade 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 currently owned by insiders.

T. Rowe Price Group Trading Up 1.4 %

NASDAQ TROW opened at $119.84 on Friday. The company has a 50-day moving average price of $112.20 and a two-hundred day moving average price of $112.43. The stock has a market cap of $26.62 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52 week low of $96.48 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $2.17 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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 issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.14%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is currently 54.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TROW shares. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays boosted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, TD Cowen dropped their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $115.55.

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.