Aberdeen Group plc Buys 19,545 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Aberdeen Group plc increased its stake in T. Rowe Price Group by 10.7% to a total of 201,893 shares, valued at approximately $19.36 million.
• Several other large investors, including Vanguard Group Inc. and Invesco Ltd., have also boosted their stakes, indicating strong institutional interest in T. Rowe Price Group.
• T. Rowe Price Group recently declared a quarterly dividend of $1.27, translating to an annualized dividend of $5.08 and a yield of 4.8%.

Aberdeen Group plc boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 10.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 201,893 shares of the asset manager's stock after purchasing an additional 19,545 shares during the period. Aberdeen Group plc owned approximately 0.09% of T. Rowe Price Group worth $19,356,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TROW. Vanguard Group Inc. boosted its stake in shares of T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after acquiring an additional 222,556 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after acquiring an additional 519,075 shares during the last quarter. Invesco Ltd. boosted its stake in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after acquiring an additional 1,035,865 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of T. Rowe Price Group by 4.9% during the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock worth $271,541,000 after acquiring an additional 138,515 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of T. Rowe Price Group by 3.6% during the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager's stock worth $218,105,000 after acquiring an additional 83,324 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TROW. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the stock a "positive" rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a "hold" rating in a research note on Thursday, October 9th. Jefferies Financial Group lifted their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a "hold" rating in a research note on Tuesday, October 7th. Evercore ISI lifted their target price on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the company an "in-line" rating in a research note on Thursday, October 9th. Finally, Zacks Research cut shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $106.38.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

TROW opened at $105.36 on Tuesday. The stock has a market cap of $23.15 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 6.51 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm's fifty day moving average is $105.81 and its 200 day moving average is $98.58.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.26 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group's payout ratio is presently 56.76%.

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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