Ethic Inc. Has $2.26 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Ethic Inc. has increased its investment in T. Rowe Price Group by 43.4%, now holding shares worth $2.26 million after purchasing an additional 7,125 shares.
• Several institutional investors, including Wealthfront Advisers LLC and Mirae Asset Global Investments, significantly raised their stakes in T. Rowe Price Group during the first quarter, indicating strong institutional interest.
• T. Rowe Price Group's stock currently has a consensus target price of $107.54, with ratings from various analysts ranging from "Strong Buy" to "Sell."

Ethic Inc. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 43.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,560 shares of the asset manager's stock after buying an additional 7,125 shares during the quarter. Ethic Inc.'s holdings in T. Rowe Price Group were worth $2,264,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC raised its stake in T. Rowe Price Group by 109.2% during the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock worth $6,369,000 after buying an additional 36,190 shares during the period. Mather Group LLC. raised its stake in T. Rowe Price Group by 11.9% during the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock worth $12,455,000 after buying an additional 14,371 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in T. Rowe Price Group by 12.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock worth $19,575,000 after buying an additional 24,323 shares during the period. Alps Advisors Inc. raised its stake in T. Rowe Price Group by 22.9% during the 1st quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager's stock worth $28,373,000 after buying an additional 57,503 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in T. Rowe Price Group by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,716,724 shares of the asset manager's stock worth $157,715,000 after buying an additional 26,395 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays upped their price target on T. Rowe Price Group from $95.00 to $103.00 and gave the stock an "underweight" rating in a research note on Tuesday. TD Cowen boosted their price objective on T. Rowe Price Group from $103.00 to $108.00 and gave the stock a "hold" rating in a report on Wednesday, October 8th. BMO Capital Markets started coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a "market perform" rating and a $108.00 price objective for the company. Morgan Stanley boosted their price objective on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a "positive" rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $102.00 to $109.00 and gave the stock an "underweight" rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, T. Rowe Price Group currently has an average rating of "Reduce" and a consensus target price of $107.54.

T. Rowe Price Group Stock Up 1.0%

TROW stock opened at $103.55 on Friday. The firm has a market cap of $22.75 billion, a PE ratio of 11.57, a P/E/G ratio of 5.62 and a beta of 1.50. The business has a 50 day moving average of $105.34 and a 200-day moving average of $99.48. 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 released its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating 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 return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.26 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

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.

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