Plato Investment Management Ltd Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Plato Investment Management Ltd increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,872 shares of the asset manager’s stock after purchasing an additional 223 shares during the period. Plato Investment Management Ltd’s holdings in T. Rowe Price Group were worth $1,618,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC boosted its position in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the period. Lynx Investment Advisory purchased a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $29,000. Hexagon Capital Partners LLC boosted its position in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares during the period. Family Firm Inc. purchased a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $36,000. Finally, Versant Capital Management Inc boosted its position in 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 buying an additional 284 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TROW. TD Cowen decreased 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 research report on Monday, November 4th. Barclays raised their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised their price objective 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. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $119.80 on Friday. The company’s fifty day moving average price is $110.11 and its 200 day moving average price is $112.06. T. Rowe Price Group, Inc. has a 12 month low of $96.46 and a 12 month high of $122.27. The firm has a market capitalization of $26.61 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 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%. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $2.17 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.14%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was 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 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.