Bleakley Financial Group LLC Acquires 854 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bleakley Financial Group LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 28.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,821 shares of the asset manager’s stock after acquiring an additional 854 shares during the quarter. Bleakley Financial Group LLC’s holdings in T. Rowe Price Group were worth $416,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new position in shares of T. Rowe Price Group in the first quarter valued at about $1,008,000. Envestnet Portfolio Solutions Inc. raised its holdings in T. Rowe Price Group by 52.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after acquiring an additional 22,533 shares during the period. Norden Group LLC acquired a new stake in T. Rowe Price Group during the first quarter worth approximately $8,437,000. Forsta AP Fonden lifted its position in T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after acquiring an additional 17,100 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its holdings in shares of T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after acquiring an additional 42,949 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays lifted their price target on T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. Evercore ISI lifted their target price on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group lowered their price target 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. Finally, Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.00.

T. Rowe Price Group Stock Down 1.0 %

TROW stock opened at $112.92 on Wednesday. The company’s 50-day moving average price is $107.88 and its two-hundred day moving average price is $111.92. The firm has a market cap of $25.22 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.93 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.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business posted $2.02 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.08 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.39%. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. In other T. Rowe Price Group 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 sale, the insider now owns 13,939 shares in the company, 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 at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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.