Robeco Institutional Asset Management B.V. Has $4.69 Million Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in T. Rowe Price Group, Inc. by 62.1%, holding $4.69 million worth of shares after selling over 79,000 shares in the second quarter.
• Several institutional investors, including Invesco and Charles Schwab, have increased their holdings in T. Rowe Price, contributing to a total institutional ownership of 73.39% in the company.
• T. Rowe Price recently announced a quarterly dividend of $1.27 per share, representing an annualized yield of 4.8%, with a dividend payout ratio of 56.76%.

Robeco Institutional Asset Management B.V. lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 62.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,548 shares of the asset manager's stock after selling 79,515 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in T. Rowe Price Group were worth $4,685,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TROW. Invesco Ltd. raised its holdings in 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 buying an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. grew its stake in 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 valued at $707,973,000 after acquiring an additional 519,075 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 valued at $2,414,931,000 after acquiring an additional 222,556 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in T. Rowe Price Group by 505.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager's stock valued at $15,867,000 after acquiring an additional 144,187 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in 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 valued at $271,541,000 after acquiring an additional 138,515 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TROW. JPMorgan Chase & Co. lifted 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. The Goldman Sachs Group lifted their target price on T. Rowe Price Group from $91.00 to $92.00 and gave the company a "sell" rating in a research note on Friday. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods lifted 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. Finally, BMO Capital Markets started coverage on T. Rowe Price Group in a research note on Friday. They issued a "market perform" rating and a $108.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $104.83.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $105.69 on Tuesday. The stock has a market cap of $23.22 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 6.68 and a beta of 1.50. The business has a 50 day simple moving average of $105.71 and a 200 day simple moving average of $98.22. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

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, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.26 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

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

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the company's stock in a transaction that occurred 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 sale, the director owned 47,335 shares of the company's stock, valued at $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 available through the SEC website. 1.60% of the stock is owned by insiders.

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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