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

Catalyst Capital Advisors LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 756 shares of the asset manager’s stock, valued at approximately $82,000.

Other hedge funds have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC increased its position in shares of T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares during the period. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at $29,000. Hexagon Capital Partners LLC grew 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 during the period. Family Firm Inc. acquired a new stake in T. Rowe Price Group during the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc grew 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 during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TROW. TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday. Morgan Stanley increased their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday. Barclays increased their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $114.73.

T. Rowe Price Group Price Performance

TROW opened at $121.31 on Thursday. The company’s 50 day simple moving average is $108.79 and its two-hundred day simple moving average is $111.82. T. Rowe Price Group, Inc. has a 1-year low of $90.02 and a 1-year high of $122.27. The firm has a market capitalization of $26.95 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company posted $2.17 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.27 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 6th. The shares were 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 of the company’s stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on 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 directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.