T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Cardinal Capital Management

Cardinal Capital Management raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,965 shares of the asset manager’s stock after buying an additional 4,282 shares during the quarter. Cardinal Capital Management’s holdings in T. Rowe Price Group were worth $6,641,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in T. Rowe Price Group in the 1st quarter valued at about $1,008,000. Envestnet Portfolio Solutions Inc. lifted its position in T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock worth $7,990,000 after buying an additional 22,533 shares in the last quarter. Norden Group LLC purchased a new position in T. Rowe Price Group during the first quarter worth approximately $8,437,000. Forsta AP Fonden boosted its stake in T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after buying an additional 17,100 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its holdings in T. Rowe Price Group by 90.0% in the 1st quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after buying an additional 42,949 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TROW has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Wells Fargo & Company lifted their target price on shares of 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. The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, TD Cowen decreased their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the stock currently 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 the company’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 transaction of $1,230,772.27. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % 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 Stock Up 1.5 %

Shares of NASDAQ TROW opened at $113.21 on Friday. The business’s 50 day moving average is $107.33 and its two-hundred day moving average is $112.09. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The firm has a market cap of $25.28 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.84 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.02 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.04 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

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.