Main Street Financial Solutions LLC Acquires 124 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Main Street Financial Solutions LLC raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,676 shares of the asset manager’s stock after acquiring an additional 124 shares during the quarter. Main Street Financial Solutions LLC’s holdings in T. Rowe Price Group were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TROW. Forsta AP Fonden lifted its holdings in T. Rowe Price Group by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Mizuho Markets Americas LLC raised its position in shares of T. Rowe Price Group by 90.0% during the 1st quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after buying an additional 42,949 shares in the last quarter. Savant Capital LLC grew its position in T. Rowe Price Group by 36.6% in the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after acquiring an additional 8,816 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock valued at $20,890,000 after purchasing an additional 6,780 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in T. Rowe Price Group by 3.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager’s stock worth $29,105,000 after purchasing an additional 9,519 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley upped their target price 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Barclays lifted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday, November 4th. Finally, Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $119.80 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $96.46 and a 1-year high of $122.27. The company has a market cap of $26.61 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.68 and a beta of 1.41. The stock has a 50 day simple moving average of $110.11 and a 200-day simple moving average of $112.06.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.17 earnings per share. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company 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.