T. Rowe Price Group Inc (NASDAQ:TROW) Shares Bought by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. boosted its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,329 shares of the asset manager’s stock after purchasing an additional 7,239 shares during the quarter. T. Rowe Price Group comprises approximately 3.1% of Tandem Investment Advisors Inc.’s holdings, making the stock its 18th largest holding. Tandem Investment Advisors Inc.’s holdings in T. Rowe Price Group were worth $11,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Focused Wealth Management Inc purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at about $139,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at about $151,000. Parallel Advisors LLC raised its position in shares of T. Rowe Price Group by 169.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,448 shares of the asset manager’s stock valued at $168,000 after buying an additional 910 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of T. Rowe Price Group by 23,361.8% during the 1st quarter. Summit Trail Advisors LLC now owns 179,483 shares of the asset manager’s stock valued at $179,000 after buying an additional 178,718 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at about $190,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.

TROW has been the topic of several recent research reports. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research report on Thursday, July 19th. Deutsche Bank decreased their target price on shares of T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, July 12th. ValuEngine cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, Citigroup decreased their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $114.11.

Shares of NASDAQ:TROW opened at $99.13 on Wednesday. The stock has a market cap of $23.33 billion, a P/E ratio of 18.26, a PEG ratio of 1.11 and a beta of 1.21. T. Rowe Price Group Inc has a 12 month low of $90.95 and a 12 month high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 25th. The asset manager reported $2.30 EPS for the quarter, beating the consensus estimate of $1.93 by $0.37. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. During the same period in the prior year, the firm posted $1.56 EPS. On average, equities analysts predict that T. Rowe Price Group Inc will post 7.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.80 annualized dividend and a yield of 2.82%. T. Rowe Price Group’s payout ratio is 51.57%.

COPYRIGHT VIOLATION NOTICE: “T. Rowe Price Group Inc (NASDAQ:TROW) Shares Bought by Tandem Investment Advisors Inc.” was first posted by Enterprise Leader and is the sole property of of Enterprise Leader. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://theenterpriseleader.com/2018/11/07/t-rowe-price-group-inc-trow-shares-bought-by-tandem-investment-advisors-inc.html.

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.

See Also: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply