Brooklyn Investment Group Buys Shares of 399 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brooklyn Investment Group bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 399 shares of the asset manager’s stock, valued at approximately $43,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in T. Rowe Price Group during the 3rd quarter valued at $3,321,000. D.A. Davidson & CO. raised its stake in T. Rowe Price Group by 4.6% during the 3rd quarter. D.A. Davidson & CO. now owns 107,484 shares of the asset manager’s stock valued at $11,708,000 after acquiring an additional 4,695 shares in the last quarter. Qsemble Capital Management LP raised its stake in T. Rowe Price Group by 172.9% during the 3rd quarter. Qsemble Capital Management LP now owns 34,042 shares of the asset manager’s stock valued at $3,708,000 after acquiring an additional 21,567 shares in the last quarter. Bank of Montreal Can raised its stake in T. Rowe Price Group by 5.5% during the 3rd quarter. Bank of Montreal Can now owns 686,086 shares of the asset manager’s stock valued at $75,133,000 after acquiring an additional 35,922 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in T. Rowe Price Group by 33.2% during the 3rd quarter. Private Trust Co. NA now owns 3,819 shares of the asset manager’s stock valued at $416,000 after acquiring an additional 952 shares in the last quarter. Institutional investors 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 business’s stock in a transaction dated 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 owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 3.36 % 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 Trading Down 0.3 %

TROW opened at $123.84 on Friday. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.75 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $97.50 and a 1 year high of $124.83. The stock has a fifty day moving average price of $113.76 and a 200 day moving average price of $112.85.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) 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 for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.17 earnings per share. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.01%. T. Rowe Price Group’s payout ratio is 54.27%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TROW. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Morgan Stanley boosted their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Evercore ISI boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. TD Cowen dropped their price objective on 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. Finally, Wells Fargo & Company boosted their price objective 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. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group 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.