Griffin Asset Management Inc. bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,204 shares of the asset manager’s stock, valued at approximately $1,378,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Good Life Advisors LLC boosted its holdings in T. Rowe Price Group by 1.1% in the second quarter. Good Life Advisors LLC now owns 4,650 shares of the asset manager’s stock valued at $359,000 after purchasing an additional 52 shares during the period. GHP Investment Advisors Inc. raised its stake in T. Rowe Price Group by 0.3% in the second quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock valued at $1,451,000 after buying an additional 53 shares in the last quarter. Pacer Advisors Inc. raised its stake in T. Rowe Price Group by 1.5% in the second quarter. Pacer Advisors Inc. now owns 5,259 shares of the asset manager’s stock valued at $390,000 after buying an additional 77 shares in the last quarter. Ridgewood Investments LLC raised its stake in T. Rowe Price Group by 1.1% in the second quarter. Ridgewood Investments LLC now owns 7,235 shares of the asset manager’s stock valued at $537,000 after buying an additional 80 shares in the last quarter. Finally, Security National Bank of SO Dak raised its stake in T. Rowe Price Group by 0.7% in the second quarter. Security National Bank of SO Dak now owns 11,910 shares of the asset manager’s stock valued at $884,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at $101.85 on Tuesday. T. Rowe Price Group, Inc. has a 52-week low of $65.33 and a 52-week high of $104.40. The company has a market capitalization of $24,897.35, a PE ratio of 20.07, a PEG ratio of 1.89 and a beta of 1.32.

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

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

In other news, CFO Kenneth V. Moreland sold 15,082 shares of T. Rowe Price Group stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $99.44, for a total transaction of $1,499,754.08. Following the sale, the chief financial officer now owns 110,182 shares in the company, valued at $10,956,498.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP W. Sharps Robert sold 5,000 shares of T. Rowe Price Group stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $98.64, for a total value of $493,200.00. The disclosure for this sale can be found here. Insiders have sold 81,705 shares of company stock worth $7,861,938 in the last quarter. Insiders own 3.60% of the company’s stock.

A number of research firms have weighed in on TROW. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Jefferies Group restated a “buy” rating and issued a $96.00 price target on shares of T. Rowe Price Group in a research note on Sunday, August 20th. Goldman Sachs Group upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a research note on Thursday, September 28th. Finally, Barclays began coverage on 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $89.67.

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T. Rowe Price Group Profile

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.

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

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