Rockland Trust Co. Buys 1,788 Shares of T. Rowe Price Group Inc (NASDAQ:TROW)

Rockland Trust Co. boosted its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,631 shares of the asset manager’s stock after acquiring an additional 1,788 shares during the period. Rockland Trust Co.’s holdings in T. Rowe Price Group were worth $11,570,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Advisory Alpha LLC purchased a new position in T. Rowe Price Group during the first quarter valued at $27,000. Kistler Tiffany Companies LLC lifted its position in T. Rowe Price Group by 66.7% during the second quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock valued at $27,000 after buying an additional 100 shares during the period. North Star Investment Management Corp. purchased a new position in T. Rowe Price Group during the third quarter valued at $27,000. AdvisorNet Financial Inc lifted its position in T. Rowe Price Group by 121.1% during the second quarter. AdvisorNet Financial Inc now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 161 shares during the period. Finally, Heritage Wealth Advisors lifted its position in T. Rowe Price Group by 201.5% during the second quarter. Heritage Wealth Advisors now owns 410 shares of the asset manager’s stock valued at $45,000 after buying an additional 274 shares during the period. Institutional investors and hedge funds own 68.66% of the company’s stock.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 19,064 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $118.50, for a total value of $2,259,084.00. Following the completion of the transaction, the vice president now owns 467,715 shares of the company’s stock, valued at approximately $55,424,227.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher D. Alderson sold 36,898 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $114.41, for a total value of $4,221,500.18. Following the completion of the transaction, the vice president now directly owns 414,144 shares of the company’s stock, valued at approximately $47,382,215.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,773 shares of company stock valued at $9,187,023. 3.10% of the stock is owned by insiders.

Shares of TROW traded up $3.17 during trading hours on Friday, hitting $111.68. The company had a trading volume of 211,134 shares, compared to its average volume of 1,137,453. The firm has a fifty day moving average price of $112.42 and a 200-day moving average price of $107.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.91 and a current ratio of 3.91. The stock has a market capitalization of $25.38 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.62 and a beta of 1.05. T. Rowe Price Group Inc has a 52-week low of $84.59 and a 52-week high of $120.99.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.15. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. T. Rowe Price Group had a return on equity of 28.80% and a net margin of 36.17%. T. Rowe Price Group’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.87 EPS. Research analysts anticipate that T. Rowe Price Group Inc will post 7.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Thursday, September 12th. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.

Several equities analysts have commented on TROW shares. BidaskClub lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. ValuEngine lowered T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. BMO Capital Markets started coverage on T. Rowe Price Group in a research report on Monday. They set a “market perform” rating and a $101.00 price objective for the company. Credit Suisse Group set a $135.00 price objective on T. Rowe Price Group and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Morgan Stanley lifted their price target on T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $110.15.

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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