Brinker Capital Inc. Purchases 608 Shares of T. Rowe Price Group Inc (NASDAQ:TROW)

Brinker Capital Inc. increased its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,765 shares of the asset manager’s stock after purchasing an additional 608 shares during the quarter. Brinker Capital Inc.’s holdings in T. Rowe Price Group were worth $2,829,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FineMark National Bank & Trust bought a new position in T. Rowe Price Group in the 2nd quarter valued at about $223,000. Close Asset Management Ltd raised its holdings in T. Rowe Price Group by 29.4% in the 2nd quarter. Close Asset Management Ltd now owns 17,800 shares of the asset manager’s stock valued at $1,953,000 after acquiring an additional 4,045 shares during the period. Coastal Investment Advisors Inc. raised its holdings in T. Rowe Price Group by 32.2% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,030 shares of the asset manager’s stock valued at $112,000 after acquiring an additional 251 shares during the period. Bessemer Group Inc. raised its holdings in T. Rowe Price Group by 58.3% in the 2nd quarter. Bessemer Group Inc. now owns 71,982 shares of the asset manager’s stock valued at $7,898,000 after acquiring an additional 26,503 shares during the period. Finally, Legacy Financial Strategies LLC grew its position in shares of T. Rowe Price Group by 4.3% during the 2nd quarter. Legacy Financial Strategies LLC now owns 6,272 shares of the asset manager’s stock worth $686,000 after purchasing an additional 261 shares in the last quarter. 68.72% of the stock is currently owned by institutional investors.

Shares of NASDAQ:TROW opened at $108.19 on Wednesday. The company’s 50 day moving average price is $112.97 and its two-hundred day moving average price is $108.60. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $120.99. The firm has a market cap of $25.77 billion, a PE ratio of 15.13, a PEG ratio of 1.75 and a beta of 1.05. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.02.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.15. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.87 EPS. On average, research analysts expect that T. Rowe Price Group Inc will post 7.8 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, September 12th. This represents a $3.04 annualized dividend and a dividend yield of 2.81%. T. Rowe Price Group’s dividend payout ratio is 42.52%.

A number of brokerages have issued reports on TROW. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Citigroup decreased their target price on shares of T. Rowe Price Group from $116.00 to $110.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Credit Suisse Group set a $135.00 target price on shares of T. Rowe Price Group and gave the stock a “buy” rating in a research report on Friday, September 13th. BidaskClub lowered shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, BMO Capital Markets began coverage on shares of T. Rowe Price Group in a research report on Monday, October 7th. They set a “market perform” rating and a $101.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $110.54.

In related news, VP W. Sharps Robert sold 19,064 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $118.50, for a total transaction of $2,259,084.00. Following the sale, the vice president now owns 467,715 shares in the company, valued at approximately $55,424,227.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D. Alderson sold 36,898 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $114.41, for a total transaction of $4,221,500.18. Following the sale, the vice president now owns 414,144 shares in the company, valued at approximately $47,382,215.04. The disclosure for this sale can be found here. Insiders have sold a total of 79,773 shares of company stock worth $9,187,023 in the last quarter. 3.10% of the stock is currently owned by company insiders.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

Further Reading: Bid-Ask Spread

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

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