Kovitz Investment Group Partners LLC Purchases Shares of 4,027 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kovitz Investment Group Partners LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,027 shares of the asset manager’s stock, valued at approximately $439,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after acquiring an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after purchasing an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. increased its position in T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares during the period. Finally, AQR Capital Management LLC raised its stake in T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group 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 directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 0.6 %

Shares of TROW stock opened at $120.96 on Friday. The firm has a fifty day simple moving average of $116.16 and a 200-day simple moving average of $113.20. The company has a market capitalization of $26.87 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.75 and a beta of 1.42. T. Rowe Price Group, Inc. has a twelve month low of $98.36 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the company posted $2.17 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Morgan Stanley upped their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Barclays lifted their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a research report on Thursday. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $117.09.

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.