World Investment Advisors LLC Buys New Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW)

World Investment Advisors LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, Holdings Channel.com reports. The firm bought 2,508 shares of the asset manager’s stock, valued at approximately $273,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Forsta AP Fonden boosted its position in shares of T. Rowe Price Group by 32.3% in 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. Janus Henderson Group PLC boosted its holdings in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after purchasing an additional 8,816 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $15,907,000. Finally, Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $516,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on TROW. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Morgan Stanley boosted their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Evercore ISI raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. 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, December 12th. Finally, Barclays increased their price objective on shares of 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 research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.09.

T. Rowe Price Group Trading Down 4.3 %

TROW opened at $112.83 on Thursday. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.73 and a beta of 1.42. The company has a fifty day simple moving average of $117.26 and a 200 day simple moving average of $113.25.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates 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 in the previous year, the company earned $2.17 earnings per share. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

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.