American Century Companies Inc. Raises Stock Position in T. Rowe Price Group, Inc. $TROW

Key Points

• American Century Companies Inc. increased its stake in T. Rowe Price Group, Inc. by 4.9% to approximately $271.54 million, now owning about 1.34% of the company.
• Multiple institutional investors, including Invesco Ltd. and Charles Schwab Investment Management Inc., have significantly raised their positions in T. Rowe Price Group, contributing to institutional ownership of 73.39%.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, translating to an annualized yield of 4.7%, with the dividend payout ratio currently at 56.76%.

American Century Companies Inc. grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 4.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,955,703 shares of the asset manager's stock after acquiring an additional 138,515 shares during the period. American Century Companies Inc. owned 1.34% of T. Rowe Price Group worth $271,541,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Invesco Ltd. raised its position in shares of T. Rowe Price Group by 43.2% during the first 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. Marshall Wace LLP bought a new position in shares of T. Rowe Price Group in the 4th quarter worth about $63,284,000. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 7.2% in 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 in the last quarter. Fayez Sarofim & Co raised its position in shares of T. Rowe Price Group by 7.6% in the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after acquiring an additional 425,142 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of T. Rowe Price Group by 28.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after acquiring an additional 387,604 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TROW has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods raised their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Finally, Morgan Stanley raised their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Eight investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $101.09.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $0.34 during mid-day trading on Tuesday, hitting $106.30. 896,954 shares of the stock were exchanged, compared to its average volume of 1,800,022. The company has a 50-day simple moving average of $101.17 and a 200 day simple moving average of $97.61. The company has a market capitalization of $23.36 billion, a P/E ratio of 11.88, a P/E/G ratio of 2.91 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

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

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's dividend payout ratio is 56.76%.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company's stock.

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.