StoneRidge PMG Advisors LLC Purchases 8,606 Shares of T. Rowe Price Group, Inc. $TROW

StoneRidge PMG Advisors LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,606 shares of the asset manager’s stock, valued at approximately $895,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC bought a new position in T. Rowe Price Group during the third quarter valued at about $202,000. Ethic Inc. lifted its position in shares of T. Rowe Price Group by 14.6% in the third quarter. Ethic Inc. now owns 22,489 shares of the asset manager’s stock worth $2,340,000 after buying an additional 2,861 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of T. Rowe Price Group by 10.8% during the 3rd quarter. Pictet Asset Management Holding SA now owns 229,387 shares of the asset manager’s stock worth $23,868,000 after acquiring an additional 22,409 shares in the last quarter. Leelyn Smith LLC boosted its stake in shares of T. Rowe Price Group by 1.2% during the 3rd quarter. Leelyn Smith LLC now owns 29,037 shares of the asset manager’s stock worth $3,021,000 after acquiring an additional 350 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of T. Rowe Price Group by 2.6% during the 3rd quarter. Parallel Advisors LLC now owns 19,112 shares of the asset manager’s stock valued at $1,989,000 after acquiring an additional 487 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TROW. Barclays cut their price objective on T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 14th. UBS Group began coverage on T. Rowe Price Group in a report on Wednesday, October 7th. They set a “neutral” rating and a $107.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Finally, Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $102.83.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $108.41 on Monday. The firm has a market capitalization of $23.13 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 4.15 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00. The firm has a 50-day moving average price of $105.26 and a 200 day moving average price of $103.78.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.23. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. T. Rowe Price Group had a return on equity of 20.63% and a net margin of 28.40%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.81 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 10.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Wednesday, December 16th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, December 16th. T. Rowe Price Group’s dividend payout ratio is 52.58%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Profile

T. Rowe Price Group is a global investment management firm that provides investment products and related services to individuals, retirement plans, institutions and financial intermediaries. Founded in 1937 by Thomas Rowe Price Jr., the company is headquartered in Baltimore, Maryland.

The firm manages a range of investment strategies, including equity, fixed-income and multi-asset portfolios. Its offerings include mutual funds, exchange-traded funds and separately managed accounts, as well as retirement-focused products and advisory services.

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