Landscape Capital Management L.L.C. Invests $580,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Landscape Capital Management L.L.C. purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,327 shares of the asset manager’s stock, valued at approximately $580,000.

Several other institutional investors and hedge funds have also bought and sold shares of TROW. Iron Horse Wealth Management LLC increased its holdings in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares during the period. Lynx Investment Advisory bought a new position in T. Rowe Price Group in the second quarter valued at approximately $29,000. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. Family Firm Inc. acquired a new position in T. Rowe Price Group during the second quarter valued at approximately $36,000. Finally, Versant Capital Management Inc boosted its holdings in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.4 %

Shares of TROW stock opened at $119.84 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $96.48 and a 1-year high of $122.27. The stock has a market cap of $26.62 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.68 and a beta of 1.41. The stock has a 50-day moving average of $112.20 and a 200-day moving average of $112.44.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 EPS. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.14%. T. Rowe Price Group’s payout ratio is 54.27%.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group dropped 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 report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $115.55.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.