Farther Finance Advisors LLC Buys 1,128 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Farther Finance Advisors LLC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,764 shares of the asset manager’s stock after acquiring an additional 1,128 shares during the quarter. Farther Finance Advisors LLC’s holdings in T. Rowe Price Group were worth $519,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Iron Horse Wealth Management LLC boosted its stake in shares of 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 acquiring an additional 110 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $29,000. Hexagon Capital Partners LLC lifted its position in shares of 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 last quarter. Family Firm Inc. acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc lifted its position in shares of 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 last quarter. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on 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. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a report on Monday. Evercore ISI upped their price target on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th. Finally, TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $114.73.

T. Rowe Price Group Trading Up 5.9 %

Shares of TROW opened at $121.31 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $90.02 and a 1 year high of $122.27. The stock has a 50 day simple moving average of $108.79 and a 200-day simple moving average of $111.82. The stock has a market cap of $26.95 billion, a PE ratio of 13.27, a PEG ratio of 1.73 and a beta of 1.41.

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

T. Rowe Price Group Announces Dividend

The firm 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 dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.09%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the 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 sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction 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 approximately $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The trade was 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 owned by corporate 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.