4,883 T. Rowe Price Group, Inc. $TROW Shares Bought by Cardinal Capital Management

Cardinal Capital Management lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 77,933 shares of the asset manager’s stock after acquiring an additional 4,883 shares during the period. Cardinal Capital Management’s holdings in T. Rowe Price Group were worth $8,109,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Wealthcare Capital Partners LLC boosted its stake in T. Rowe Price Group by 1.0% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after purchasing an additional 93 shares during the period. Kesler Norman & Wride LLC grew its position in T. Rowe Price Group by 0.6% in the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after purchasing an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in T. Rowe Price Group by 9.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after purchasing an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of T. Rowe Price Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after purchasing an additional 100 shares during the period. Finally, Concorde Asset Management LLC increased its stake in shares of T. Rowe Price Group by 3.9% in the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 102 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Trading Up 1.1%

Shares of NASDAQ:TROW opened at $103.29 on Thursday. The company has a 50 day moving average of $106.60 and a 200-day moving average of $107.04. The firm has a market cap of $22.03 billion, a P/E ratio of 9.88, a P/E/G ratio of 2.98 and a beta of 1.45. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm posted $2.24 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 10.10 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is 52.16%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of recent analyst reports. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. The Goldman Sachs Group boosted their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. UBS Group began coverage on T. Rowe Price Group in a report on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 price objective for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, TD Cowen cut their target price on T. Rowe Price Group from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and an average price target of $104.08.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.