Signature Estate & Investment Advisors LLC Takes Position in T. Rowe Price Group, Inc. (TROW)

Signature Estate & Investment Advisors LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,300 shares of the asset manager’s stock, valued at approximately $118,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HighPoint Advisor Group LLC boosted its holdings in shares of T. Rowe Price Group by 172.4% during the 3rd 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 during the period. Comerica Bank boosted its holdings in shares of T. Rowe Price Group by 11.0% during the 3rd quarter. Comerica Bank now owns 67,367 shares of the asset manager’s stock worth $6,226,000 after buying an additional 6,695 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $4,888,000. First National Trust Co. boosted its holdings in shares of T. Rowe Price Group by 9.8% during the 3rd quarter. First National Trust Co. now owns 18,134 shares of the asset manager’s stock worth $1,644,000 after buying an additional 1,620 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of T. Rowe Price Group by 11.4% during the 3rd quarter. Toronto Dominion Bank now owns 91,796 shares of the asset manager’s stock worth $8,321,000 after buying an additional 9,392 shares during the period. 72.28% of the stock is owned by institutional investors and hedge funds.

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In other news, insider Jessica M. Hiebler sold 1,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the transaction, the insider now owns 8,461 shares in the company, valued at approximately $713,177.69. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kenneth V. Moreland sold 13,041 shares of the 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 completion of the transaction, the chief financial officer now owns 135,028 shares of the company’s stock, valued at approximately $12,210,582.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,204 shares of company stock valued at $1,640,922. Corporate insiders own 3.60% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) traded down $0.16 during mid-day trading on Tuesday, hitting $93.41. 1,067,000 shares of the stock were exchanged, compared to its average volume of 1,686,925. T. Rowe Price Group, Inc. has a 52 week low of $65.33 and a 52 week high of $97.35. The firm has a market cap of $22,672.95, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company posted $1.17 EPS. The business’s revenue was up 11.8% on a year-over-year basis. equities research analysts expect that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is 37.38%.

Several analysts recently issued reports on the stock. BidaskClub downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Tuesday, September 26th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of T. Rowe Price Group in a report on Thursday, July 27th. ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $96.00 price objective on shares of T. Rowe Price Group in a report on Sunday, August 20th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $89.50.

T. Rowe Price Group Profile

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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