Nicholas Investment Partners LP purchased a new position in 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 institutional investor purchased 51,150 shares of the asset manager’s stock, valued at approximately $4,637,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TROW. Bronfman E.L. Rothschild L.P. raised its holdings in T. Rowe Price Group by 6.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after purchasing an additional 103 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in T. Rowe Price Group during the 3rd quarter worth approximately $118,000. Grove Bank & Trust increased its stake in T. Rowe Price Group by 178.7% during the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after buying an additional 840 shares in the last quarter. Quadrant Capital Group LLC increased its stake in T. Rowe Price Group by 5.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after buying an additional 89 shares in the last quarter. Finally, Sun Life Financial INC increased its stake in T. Rowe Price Group by 19,500.0% during the 2nd quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after buying an additional 1,755 shares in the last quarter. 72.21% of the stock is owned by institutional investors.

TROW has been the subject of several research reports. Jefferies Group reiterated a “buy” rating and set a $104.00 price objective (up from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. Citigroup boosted their price objective on 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. UBS boosted their price objective on T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a research note on Friday, October 27th. Barclays boosted their price objective on T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research note on Friday, October 27th. Finally, Morgan Stanley upgraded 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 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 company’s stock. The company has a consensus rating of “Hold” and an average price target of $89.50.

In related news, VP W. Sharps Robert sold 5,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $98.64, for a total value of $493,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William J. Stromberg sold 30,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total value of $2,912,700.00. Following the completion of the transaction, the chief executive officer now owns 534,077 shares of the company’s stock, valued at $51,853,535.93. The disclosure for this sale can be found here. Insiders sold 81,705 shares of company stock valued at $7,861,938 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at $102.82 on Tuesday. The stock has a market capitalization of $24,907.04, a P/E ratio of 20.08, a PEG ratio of 1.89 and a beta of 1.32. T. Rowe Price Group, Inc. has a 52-week low of $65.33 and a 52-week high of $103.85.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be given a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.22%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 37.38%.

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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.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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