Guardian Capital LP Takes $245,000 Position in T. Rowe Price Group, Inc. (TROW)

Guardian Capital LP purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,701 shares of the asset manager’s stock, valued at approximately $245,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Good Life Advisors LLC boosted its stake in T. Rowe Price Group by 1.1% in the 2nd quarter. Good Life Advisors LLC now owns 4,650 shares of the asset manager’s stock worth $359,000 after purchasing an additional 52 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in T. Rowe Price Group by 0.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock worth $1,451,000 after purchasing an additional 53 shares in the last quarter. Pacer Advisors Inc. boosted its stake in T. Rowe Price Group by 1.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,259 shares of the asset manager’s stock worth $390,000 after purchasing an additional 77 shares in the last quarter. Security National Bank of SO Dak boosted its stake in T. Rowe Price Group by 0.7% in the 2nd quarter. Security National Bank of SO Dak now owns 11,910 shares of the asset manager’s stock worth $884,000 after purchasing an additional 85 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in T. Rowe Price Group by 5.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

In other news, Director Anne M. Whittemore sold 4,163 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $90.64, for a total transaction of $377,334.32. Following the completion of the sale, the director now owns 29,070 shares of the company’s stock, valued at approximately $2,634,904.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D. Alderson sold 6,808 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $102.83, for a total transaction of $700,066.64. Following the sale, the vice president now directly owns 119,846 shares of the company’s stock, valued at approximately $12,323,764.18. The disclosure for this sale can be found here. Insiders have sold a total of 88,513 shares of company stock worth $8,562,005 in the last 90 days. Company insiders own 3.60% of the company’s stock.

A number of equities analysts recently issued reports on TROW shares. Jefferies Group reiterated a “buy” rating and issued a $104.00 price target (up previously from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Barclays started coverage on shares of T. Rowe Price Group in a research note on Friday, September 8th. They issued an “underweight” rating and a $79.00 price target on the stock. Citigroup upped their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Finally, Goldman Sachs Group upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $100.00 in a research note on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $89.67.

T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at $101.90 on Thursday. The stock has a market cap of $24,870.70, a PE ratio of 20.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.32. T. Rowe Price Group, Inc. has a one year low of $65.33 and a one year high of $104.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.20. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. equities analysts forecast that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 37.38%.

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About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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