Paloma Partners Management Co Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Paloma Partners Management Co acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,340 shares of the asset manager’s stock, valued at approximately $473,000.

Several other institutional investors have also recently modified their holdings of TROW. Insight Folios Inc grew its position in T. Rowe Price Group by 3.6% in the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after purchasing an additional 90 shares during the last quarter. Keystone Financial Services grew its position in T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares during the last quarter. Nvwm LLC grew its position in T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after purchasing an additional 95 shares during the last quarter. Strategy Asset Managers LLC grew its position in T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in T. Rowe Price Group by 29.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after purchasing an additional 99 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TROW has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Barclays increased their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, The Goldman Sachs Group decreased their price objective on shares of 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. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $123.00 on Thursday. The company has a market cap of $27.33 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.74 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52 week low of $97.50 and a 52 week high of $124.83. The firm has a 50 day simple moving average of $114.67 and a 200 day simple moving average of $112.99.

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

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.03%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 3.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 8.83 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

About T. Rowe Price Group

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.