Barlow Wealth Partners Inc. Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Barlow Wealth Partners Inc. increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,212 shares of the asset manager’s stock after buying an additional 971 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in T. Rowe Price Group were worth $6,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group in the second quarter worth $29,000. Family Firm Inc. purchased a new position in T. Rowe Price Group during the 2nd quarter valued at $36,000. Versant Capital Management Inc increased its position in T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares during the period. EverSource Wealth Advisors LLC increased its position in T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 160 shares during the period. Finally, Riverview Trust Co increased its position in T. Rowe Price Group by 136.4% during the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 206 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’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 owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’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 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 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

T. Rowe Price Group stock traded up $0.46 during mid-day trading on Wednesday, reaching $107.06. The stock had a trading volume of 48,122 shares, compared to its average volume of 1,247,836. The company has a market capitalization of $23.83 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.81 and a beta of 1.41. The company has a 50-day moving average price of $106.92 and a two-hundred day moving average price of $112.49. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced 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). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.02 EPS. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.97 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Ratings Changes

A number of research analysts have issued reports on TROW shares. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Barclays started coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company began coverage on shares of T. Rowe Price Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $112.36.

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.