Cambridge Investment Research Advisors Inc. Acquires 1,497 Shares of T. Rowe Price Group, Inc. (TROW)

Cambridge Investment Research Advisors Inc. increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,698 shares of the asset manager’s stock after buying an additional 1,497 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in T. Rowe Price Group were worth $2,511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in T. Rowe Price Group by 15.9% in the third quarter. Russell Investments Group Ltd. now owns 45,677 shares of the asset manager’s stock worth $4,141,000 after buying an additional 6,270 shares in the last quarter. GenTrust LLC raised its stake in T. Rowe Price Group by 1.0% in the third quarter. GenTrust LLC now owns 140,292 shares of the asset manager’s stock worth $12,717,000 after buying an additional 1,401 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in T. Rowe Price Group by 6.5% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,136 shares of the asset manager’s stock worth $5,633,000 after buying an additional 3,769 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in T. Rowe Price Group in the third quarter worth approximately $118,000. Finally, HighPoint Advisor Group LLC raised its stake in T. Rowe Price Group by 172.4% in the third quarter. HighPoint Advisor Group LLC now owns 15,264 shares of the asset manager’s stock worth $1,444,000 after buying an additional 9,661 shares in the last quarter. 72.28% of the stock is owned by institutional investors.

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In other news, CFO Kenneth V. Moreland sold 13,041 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.43, for a total transaction of $1,179,297.63. Following the sale, the chief financial officer now directly owns 135,028 shares of the company’s stock, valued at $12,210,582.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total transaction of $84,290.00. Following the sale, the insider now directly owns 8,461 shares in the company, valued at $713,177.69. The disclosure for this sale can be found here. Insiders have sold 18,204 shares of company stock worth $1,640,922 over the last three months. Corporate insiders own 3.60% of the company’s stock.

TROW has been the subject of a number of recent research reports. Jefferies Group LLC reissued a “buy” rating and issued a $104.00 price objective (up previously from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. Credit Suisse Group boosted their price objective on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 26th. Citigroup Inc. boosted their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Tuesday, September 12th. Finally, Morgan Stanley raised shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and boosted their price objective for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $89.50.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at $95.98 on Friday. The firm has a market cap of $23,256.91, a price-to-earnings ratio of 18.75, a PEG ratio of 1.76 and a beta of 1.29. T. Rowe Price Group, Inc. has a 1-year low of $65.33 and a 1-year high of $97.35.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 37.38%.

About T. Rowe Price Group

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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