Benin Management CORP Acquires 1,731 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Benin Management CORP boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 22.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,379 shares of the asset manager’s stock after acquiring an additional 1,731 shares during the period. Benin Management CORP’s holdings in T. Rowe Price Group were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in T. Rowe Price Group during the 1st quarter worth approximately $1,008,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after acquiring an additional 22,533 shares during the last quarter. Norden Group LLC acquired a new position in T. Rowe Price Group in the first quarter valued at about $8,437,000. Forsta AP Fonden lifted its position in T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after buying an additional 17,100 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in shares of T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after purchasing an additional 42,949 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated 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 owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were 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 of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TROW shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price target 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. TD Cowen decreased their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Four investment 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 an average rating of “Hold” and an average price target of $113.00.

T. Rowe Price Group Price Performance

TROW traded down $1.70 during trading hours on Monday, hitting $113.93. 191,852 shares of the stock were exchanged, compared to its average volume of 1,249,307. The stock has a 50-day simple moving average of $107.54 and a 200-day simple moving average of $111.96. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.93 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the business earned $2.02 earnings per share. T. Rowe Price Group’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.08 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.35%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

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.