Y Intercept Hong Kong Ltd Purchases 1,133 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Y Intercept Hong Kong Ltd boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,895 shares of the asset manager’s stock after acquiring an additional 1,133 shares during the period. Y Intercept Hong Kong Ltd’s holdings in T. Rowe Price Group were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Insight Folios Inc boosted its stake in shares of T. Rowe Price Group by 3.6% during 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 in the last quarter. Keystone Financial Services boosted its position in T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 92 shares in the last quarter. Nvwm LLC increased its holdings in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after acquiring an additional 95 shares during the period. Strategy Asset Managers LLC raised its position in shares of T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after acquiring an additional 95 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of T. Rowe Price Group by 29.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $119.54 on Friday. The business has a fifty day moving average of $116.67 and a 200 day moving average of $113.24. The firm has a market capitalization of $26.56 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $2.17 earnings per share. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TROW shares. The Goldman Sachs Group cut their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. 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 note on Monday, November 4th. TD Cowen reduced their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, Barclays raised their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $117.09.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.