Royal Bank of Canada Has $71.76 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Royal Bank of Canada increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 634,511 shares of the asset manager's stock after buying an additional 33,453 shares during the quarter. Royal Bank of Canada owned 0.29% of T. Rowe Price Group worth $71,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Norges Bank acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $117,704,000. Marshall Wace LLP bought a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $63,284,000. Fayez Sarofim & Co boosted its holdings in T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after acquiring an additional 425,142 shares during the last quarter. Amundi boosted its holdings in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after acquiring an additional 397,278 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after acquiring an additional 346,369 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TROW shares. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a report on Monday, April 14th. Morgan Stanley upped their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Finally, TD Cowen reduced their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of "Hold" and a consensus target price of $94.09.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $97.09 on Wednesday. The business's 50 day simple moving average is $90.65 and its two-hundred day simple moving average is $105.57. The stock has a market capitalization of $21.39 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.23%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.