154,800 Shares in T. Rowe Price Group, Inc. $TROW Bought by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 154,800 shares of the asset manager’s stock, valued at approximately $15,889,000. Adams Diversified Equity Fund Inc. owned 0.07% of T. Rowe Price Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in T. Rowe Price Group by 14.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,205 shares of the asset manager’s stock valued at $5,988,000 after buying an additional 8,324 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in T. Rowe Price Group by 0.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 29,180 shares of the asset manager’s stock worth $2,681,000 after buying an additional 256 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in T. Rowe Price Group by 15.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 26,585 shares of the asset manager’s stock valued at $2,442,000 after acquiring an additional 3,493 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in shares of T. Rowe Price Group by 163.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 9,440 shares of the asset manager’s stock valued at $868,000 after acquiring an additional 5,860 shares during the last quarter. Finally, Caxton Associates LLP purchased a new stake in shares of T. Rowe Price Group in the 1st quarter valued at $1,032,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.

T. Rowe Price Group Trading Up 2.4%

Shares of TROW stock opened at $109.01 on Wednesday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $118.32. The business’s 50 day moving average is $103.01 and its two-hundred day moving average is $103.80. The company has a market capitalization of $23.79 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.70 and a beta of 1.52.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the business earned $2.57 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a dividend of $1.27 per share. The ex-dividend date was Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group’s dividend payout ratio is currently 55.34%.

Analyst Ratings Changes

TROW has been the subject of a number of research reports. TD Cowen boosted their target price on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Barclays lifted their price objective on T. Rowe Price Group from $101.00 to $102.00 and gave the company an “underweight” rating in a research note on Friday, December 12th. Deutsche Bank Aktiengesellschaft lowered their target price on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a report on Monday, November 3rd. Finally, The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a report on Tuesday, November 25th. Twelve investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $108.31.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.