Eldred Rock Partners LLC Purchases 2,707 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Eldred Rock Partners LLC raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,836 shares of the asset manager’s stock after acquiring an additional 2,707 shares during the period. T. Rowe Price Group makes up approximately 2.5% of Eldred Rock Partners LLC’s holdings, making the stock its 25th biggest holding. Eldred Rock Partners LLC’s holdings in T. Rowe Price Group were worth $7,498,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its position in T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after buying an additional 86 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of T. Rowe Price Group by 0.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after purchasing an additional 88 shares during the last quarter. MCF Advisors LLC boosted its stake in T. Rowe Price Group by 1.6% in the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after purchasing an additional 92 shares in the last quarter. Paulson Wealth Management Inc. grew its position in T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after purchasing an additional 95 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in 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 valued at $49,000 after purchasing an additional 99 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s 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 completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’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 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. TD Cowen cut their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. 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, Evercore ISI raised their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.36.

T. Rowe Price Group Price Performance

NASDAQ TROW traded up $1.99 on Friday, hitting $108.47. The company had a trading volume of 739,131 shares, compared to its average volume of 1,144,817. The company has a market capitalization of $24.15 billion, a PE ratio of 12.88, a PEG ratio of 1.72 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The company’s fifty day moving average price is $107.17 and its 200-day moving average price is $112.72.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the company earned $2.02 EPS. T. Rowe Price Group’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.96 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.57%. T. Rowe Price Group’s payout ratio is 58.91%.

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.