Mackay Shields LLC Acquires 1,545 Shares of T. Rowe Price Group Inc (NASDAQ:TROW)

Mackay Shields LLC raised its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,758 shares of the asset manager’s stock after acquiring an additional 1,545 shares during the period. Mackay Shields LLC’s holdings in T. Rowe Price Group were worth $4,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kistler Tiffany Companies LLC grew its holdings in shares of T. Rowe Price Group by 66.7% in the second quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. North Star Investment Management Corp. bought a new position in shares of T. Rowe Price Group in the third quarter worth approximately $27,000. Mechanics Bank Trust Department bought a new position in shares of T. Rowe Price Group in the third quarter worth approximately $31,000. AdvisorNet Financial Inc grew its holdings in shares of T. Rowe Price Group by 121.1% in the second quarter. AdvisorNet Financial Inc now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 161 shares during the last quarter. Finally, Heritage Wealth Advisors grew its holdings in shares of T. Rowe Price Group by 201.5% in the second quarter. Heritage Wealth Advisors now owns 410 shares of the asset manager’s stock worth $45,000 after purchasing an additional 274 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

In related news, VP W. Sharps Robert sold 19,064 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $118.50, for a total value of $2,259,084.00. Following the completion of the sale, the vice president now directly owns 467,715 shares in the company, valued at approximately $55,424,227.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by company insiders.

TROW has been the topic of several recent analyst reports. 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 report on Friday, September 13th. Wells Fargo & Co set a $112.00 target price on shares of T. Rowe Price Group and gave the stock a “hold” rating in a report on Friday, October 11th. Deutsche Bank cut their target price on shares of T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, August 9th. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a report on Monday, October 7th. They issued a “market perform” rating and a $101.00 target price on the stock. Finally, Citigroup cut 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 report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $110.54.

TROW stock traded down $0.80 on Friday, reaching $119.58. The company’s stock had a trading volume of 1,004,900 shares, compared to its average volume of 1,179,848. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $121.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.60 and a current ratio of 3.60. The business has a fifty day simple moving average of $113.17 and a two-hundred day simple moving average of $109.56. The firm has a market cap of $27.84 billion, a PE ratio of 16.72, a PEG ratio of 1.76 and a beta of 1.04.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 24th. The asset manager reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.15. T. Rowe Price Group had a return on equity of 28.84% and a net margin of 35.28%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company earned $1.99 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group Inc will post 7.86 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.04 annualized dividend and a yield of 2.54%. T. Rowe Price Group’s payout ratio is 42.52%.

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.

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

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