Acropolis Investment Management LLC Invests $102,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Acropolis Investment Management LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 935 shares of the asset manager’s stock, valued at approximately $102,000.

Other large investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its holdings in T. Rowe Price Group by 33.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,958 shares of the asset manager’s stock worth $483,000 after acquiring an additional 997 shares during the last quarter. Tidal Investments LLC lifted its holdings in T. Rowe Price Group by 21.4% in the first quarter. Tidal Investments LLC now owns 6,303 shares of the asset manager’s stock worth $768,000 after acquiring an additional 1,110 shares during the last quarter. Swedbank AB bought a new position in T. Rowe Price Group in the first quarter worth about $1,495,000. Cetera Investment Advisers lifted its holdings in T. Rowe Price Group by 175.6% in the first quarter. Cetera Investment Advisers now owns 43,261 shares of the asset manager’s stock worth $5,274,000 after acquiring an additional 27,565 shares during the last quarter. Finally, Cetera Advisors LLC lifted its holdings in T. Rowe Price Group by 156.3% in the first quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock worth $2,051,000 after acquiring an additional 10,260 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’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 transaction of $1,230,772.27. Following the completion of 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 8.83 % 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 Price Performance

NASDAQ TROW opened at $123.84 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $97.50 and a 12 month high of $124.83. The firm has a market capitalization of $27.51 billion, a PE ratio of 13.55, a P/E/G ratio of 1.74 and a beta of 1.41. The company’s 50 day simple moving average is $113.76 and its 200 day simple moving average is $112.84.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for 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 firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.17 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.01%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Evercore ISI raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Barclays lifted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Morgan Stanley lifted their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $115.55.

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.