Invictus RG Invests $455,000 in T. Rowe Price Group, Inc. (TROW) Stock

Invictus RG bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,015 shares of the asset manager’s stock, valued at approximately $455,000.

Other hedge funds have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its position in T. Rowe Price Group by 6.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after buying an additional 103 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in T. Rowe Price Group in the third quarter worth about $118,000. Grove Bank & Trust increased its position in T. Rowe Price Group by 178.7% in the third 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 position in T. Rowe Price Group by 5.4% in the second 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 position in T. Rowe Price Group by 19,500.0% in the second 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 currently owned by institutional investors.

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

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

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

TROW has been the subject of a number of analyst reports. Jefferies Group restated a “buy” rating and issued a $104.00 price target (up previously from $96.00) on shares of T. Rowe Price Group in a research report on Tuesday, October 10th. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Barclays initiated coverage on T. Rowe Price Group in a research report on Friday, September 8th. They issued an “underweight” rating and a $79.00 price target for the company. Citigroup increased their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $89.50.

In related news, CEO William J. Stromberg sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total transaction of $2,912,700.00. Following the completion of the sale, the chief executive officer now directly owns 534,077 shares of the company’s stock, valued at approximately $51,853,535.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne M. Whittemore sold 4,163 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $90.64, for a total value of $377,334.32. Following the sale, the director now directly owns 29,070 shares of the company’s stock, valued at $2,634,904.80. The disclosure for this sale can be found here. Insiders have sold a total of 81,705 shares of company stock valued at $7,861,938 over the last three months. 3.60% of the stock is owned by corporate insiders.

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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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