T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,976 shares of the asset manager’s stock after acquiring an additional 184 shares during the quarter. Icon Wealth Advisors LLC’s holdings in T. Rowe Price Group were worth $215,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Victory Capital Management Inc. increased its stake in T. Rowe Price Group by 3.8% during the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after buying an additional 124,686 shares in the last quarter. American Century Companies Inc. increased its stake in T. Rowe Price Group by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after buying an additional 107,086 shares in the last quarter. Provident Trust Co. raised its holdings in shares of T. Rowe Price Group by 0.3% during the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after acquiring an additional 7,905 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after acquiring an additional 47,998 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Cowen dropped their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $123.84 on Friday. The firm has a 50 day simple moving average of $113.76 and a 200-day simple moving average of $112.84. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.74 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.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping 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 company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business posted $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts expect 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 firm 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

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.