T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Increased by Verity Asset Management Inc.

Verity Asset Management Inc. lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 70.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,367 shares of the asset manager’s stock after acquiring an additional 4,294 shares during the period. Verity Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,133,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its holdings in shares of T. Rowe Price Group by 52.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during the period. Forsta AP Fonden lifted its stake in shares of T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in 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 valued at $11,057,000 after buying an additional 42,949 shares in the last quarter. Savant Capital LLC lifted its holdings in T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after purchasing an additional 8,816 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after purchasing an additional 6,780 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TROW. Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. TD Cowen decreased their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, Barclays upped their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $115.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This 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, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the company’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 of the company’s stock, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 1.0 %

T. Rowe Price Group stock opened at $120.06 on Friday. The stock has a market cap of $26.67 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.76 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12-month low of $90.02 and a 12-month high of $122.27. The business’s 50-day simple moving average is $108.79 and its 200 day simple moving average is $111.82.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.32 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.13%. 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.