T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Holdings Lifted by King Luther Capital Management Corp

King Luther Capital Management Corp grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 26,742 shares of the asset manager’s stock after acquiring an additional 387 shares during the period. King Luther Capital Management Corp’s holdings in T. Rowe Price Group were worth $2,913,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TROW. Forsta AP Fonden boosted its position in shares of T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after purchasing an additional 17,100 shares during the period. Savant Capital LLC raised its holdings in shares of T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after acquiring an additional 8,816 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $15,907,000. Aigen Investment Management LP acquired a new position in T. Rowe Price Group in the 3rd quarter worth approximately $516,000. Finally, Cetera Advisors LLC boosted its stake in T. Rowe Price Group by 156.3% in the 1st quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock worth $2,051,000 after purchasing an additional 10,260 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Up 1.4 %

T. Rowe Price Group stock opened at $119.84 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $96.48 and a 1-year high of $122.27. The firm’s fifty day simple moving average is $112.20 and its 200-day simple moving average is $112.43. The company has a market capitalization of $26.62 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.67 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $2.17 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.14%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Wall Street Analyst Weigh In

TROW has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Evercore ISI lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, The Goldman Sachs Group lowered their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $115.55.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated 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 $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.