T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,774 shares of the asset manager’s stock after purchasing an additional 1,879 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in T. Rowe Price Group were worth $4,006,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Insight Folios Inc increased its holdings in shares of T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 90 shares during the period. L. Roy Papp & Associates LLP boosted its position in T. Rowe Price Group by 0.5% in the third quarter. L. Roy Papp & Associates LLP now owns 172,403 shares of the asset manager’s stock valued at $18,780,000 after buying an additional 934 shares during the last quarter. Mattern Capital Management LLC increased its holdings in T. Rowe Price Group by 0.9% in the 3rd quarter. Mattern Capital Management LLC now owns 72,375 shares of the asset manager’s stock worth $7,884,000 after buying an additional 631 shares during the period. Forsta AP Fonden increased its holdings in T. Rowe Price Group by 68.0% in the 3rd quarter. Forsta AP Fonden now owns 117,800 shares of the asset manager’s stock worth $12,832,000 after buying an additional 47,700 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in T. Rowe Price Group by 14.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,068 shares of the asset manager’s stock worth $17,201,000 after buying an additional 19,482 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several analyst reports. Barclays boosted their price objective on T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, October 14th. TD Cowen lowered their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Wells Fargo & Company lifted 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 report on Wednesday, October 9th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $113.00.

T. Rowe Price Group Price Performance

TROW stock traded up $0.74 during trading on Monday, hitting $112.07. The stock had a trading volume of 71,922 shares, compared to its average volume of 1,242,507. T. Rowe Price Group, Inc. has a twelve month low of $88.55 and a twelve month high of $122.27. The company’s 50-day moving average price is $108.08 and its two-hundred day moving average price is $111.77. The stock has a market capitalization of $24.95 billion, a P/E ratio of 13.14, a PEG ratio of 1.82 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm 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 firm earned $2.02 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.16 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.56%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 sale, the vice president now 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. Company insiders own 2.00% of the company’s stock.

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.