Dimensional Fund Advisors LP Boosts Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• Dimensional Fund Advisors LP increased its stake in T. Rowe Price Group by 2.3%, now holding approximately $163.78 million worth of shares.
• Institutional investors collectively own 73.39% of T. Rowe Price Group, indicating significant confidence in the company's prospects.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27 per share, which represents an annualized yield of 4.8%.

Dimensional Fund Advisors LP grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,782,869 shares of the asset manager's stock after purchasing an additional 39,564 shares during the period. Dimensional Fund Advisors LP owned about 0.81% of T. Rowe Price Group worth $163,779,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in T. Rowe Price Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after buying an additional 222,556 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after purchasing an additional 519,075 shares during the last quarter. Invesco Ltd. boosted its position in 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 valued at $315,453,000 after buying an additional 1,035,865 shares during the period. Northern Trust Corp grew its stake in shares of T. Rowe Price Group by 10.0% during the fourth quarter. Northern Trust Corp now owns 2,290,739 shares of the asset manager's stock valued at $259,060,000 after buying an additional 208,304 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $199,367,000 after acquiring an additional 387,604 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares of the company's stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Price Performance

NASDAQ TROW traded up $3.76 during mid-day trading on Friday, reaching $108.29. The stock had a trading volume of 1,333,258 shares, compared to its average volume of 1,472,118. The stock has a market cap of $23.79 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 2.74 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company has a fifty day moving average price of $102.12 and a 200 day moving average price of $97.60.

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

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's dividend payout ratio is presently 56.76%.

Analysts Set New Price Targets

A number of equities analysts have commented on TROW shares. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. Morgan Stanley upped their price objective on shares of 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. Keefe, Bruyette & Woods boosted their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Barclays reiterated an "underweight" rating and issued a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Eight analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of "Reduce" and a consensus price target of $101.09.

About T. Rowe Price Group

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.