399 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by Brooklyn Investment Group

Brooklyn Investment Group acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, Holdings Channel reports. The fund acquired 399 shares of the asset manager’s stock, valued at approximately $43,000.

Other large investors have also made changes to their positions in the company. Forsta AP Fonden lifted its position in shares of T. Rowe Price Group by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Savant Capital LLC increased its stake in 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 bought a new position in T. Rowe Price Group during the second quarter valued at about $15,907,000. Aigen Investment Management LP bought a new position in T. Rowe Price Group during the third quarter valued at about $516,000. Finally, Cetera Advisors LLC increased its stake in T. Rowe Price Group by 156.3% during the first quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock valued at $2,051,000 after acquiring an additional 10,260 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $123.84 on Friday. The stock’s fifty day moving average price is $113.76 and its two-hundred day moving average price is $112.85. T. Rowe Price Group, Inc. has a 52-week low of $97.50 and a 52-week high of $124.83. The company has a market cap of $27.51 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.75 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business earned $2.17 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed 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. This represents a $4.96 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Insiders Place Their Bets

In other 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 owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 8.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Barclays boosted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday, November 4th. Morgan Stanley boosted their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, TD Cowen lowered their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $115.55.

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.