Blue Trust Inc. Buys 1,965 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Blue Trust Inc. lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 302.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,615 shares of the asset manager’s stock after buying an additional 1,965 shares during the quarter. Blue Trust Inc.’s holdings in T. Rowe Price Group were worth $301,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of T. Rowe Price Group by 3.8% during the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after acquiring an additional 124,686 shares in the last quarter. American Century Companies Inc. boosted 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 valued at $289,750,000 after purchasing an additional 107,086 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of T. Rowe Price Group by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock worth $188,592,000 after purchasing an additional 40,490 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of T. Rowe Price Group by 0.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 654,139 shares of the asset manager’s stock valued at $75,429,000 after purchasing an additional 4,701 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the subject of a number of recent analyst reports. Barclays boosted their target price on T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a research report on Monday, October 14th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $113.00.

T. Rowe Price Group Stock Up 2.3 %

TROW stock opened at $112.01 on Friday. The business’s 50-day moving average price is $107.95 and its 200-day moving average price is $111.90. The stock has a market cap of $24.93 billion, a P/E ratio of 13.22, a PEG ratio of 1.86 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.02 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.09 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.56%.

Insiders Place Their Bets

In other 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 transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Company 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.