4,883 T. Rowe Price Group, Inc. $TROW Shares Bought by Cardinal Capital Management

Cardinal Capital Management raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,933 shares of the asset manager’s stock after acquiring an additional 4,883 shares during the quarter. Cardinal Capital Management’s holdings in T. Rowe Price Group were worth $8,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Twin Tree Management LP bought a new stake in T. Rowe Price Group during the second quarter worth approximately $2,989,000. Envestnet Portfolio Solutions Inc. grew its position in T. Rowe Price Group by 6.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 174,047 shares of the asset manager’s stock worth $19,787,000 after buying an additional 10,077 shares during the last quarter. BlackRock Inc. acquired a new position in T. Rowe Price Group in the second quarter worth approximately $2,728,119,000. Louisiana State Employees Retirement System bought a new position in shares of T. Rowe Price Group in the first quarter valued at $1,001,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $1,668,000. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays decreased their target price on T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating on the stock in a report on Wednesday, October 14th. Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. The Goldman Sachs Group upped their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Morgan Stanley decreased their price target on T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. Finally, TD Cowen dropped their price target on T. Rowe Price Group from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $104.08.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $103.29 on Thursday. The company has a market cap of $22.03 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 2.98 and a beta of 1.45. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The firm has a 50 day simple moving average of $106.60 and a 200 day simple moving average of $107.04.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the company posted $2.24 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 10.10 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were issued a $1.30 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio is presently 52.16%.

Insider Activity

In other news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.