Mattern Capital Management LLC Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mattern Capital Management LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 72,375 shares of the asset manager’s stock after buying an additional 631 shares during the quarter. Mattern Capital Management LLC’s holdings in T. Rowe Price Group were worth $7,884,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC increased its position in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Lynx Investment Advisory purchased a new stake in T. Rowe Price Group during the 2nd quarter worth about $29,000. Hexagon Capital Partners LLC increased its position in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. purchased a new stake in T. Rowe Price Group during the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc increased its position in T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s 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 transaction, the vice president now directly owns 123,624 shares in the company, 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Barclays lifted their price target on T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, Wells Fargo & Company lifted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $113.00.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $111.33 on Friday. The firm has a market capitalization of $24.86 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.86 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The business’s 50-day simple moving average is $108.08 and its 200-day simple moving average is $111.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.09 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.46%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

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.