B. Riley Wealth Advisors Inc. Has $242,000 Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,247 shares of the asset manager’s stock after selling 230 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in T. Rowe Price Group were worth $242,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Forsta AP Fonden raised its holdings in T. Rowe Price Group by 32.3% in the 2nd 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. Janus Henderson Group PLC grew its position in shares of T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the last quarter. Savant Capital LLC increased its stake in shares of T. Rowe Price Group by 36.6% in the second 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 acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $15,907,000. Finally, Aigen Investment Management LP bought a new stake in T. Rowe Price Group during the 3rd quarter valued at approximately $516,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Up 2.8 %

NASDAQ TROW opened at $116.12 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The company has a 50 day moving average of $117.50 and a 200-day moving average of $113.22. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.73 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The firm 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 20.35% and a net margin of 30.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $2.17 EPS. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 4.27%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Analysts Set New Price Targets

A number of research analysts have recently commented on TROW shares. Wells Fargo & Company upped their price target on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Barclays lifted their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Friday. Finally, TD Cowen decreased their price target on shares of 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $117.00.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

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.