Russell Investments Group Ltd. Has $10.43 Million Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Russell Investments Group Ltd. increased its holdings in T. Rowe Price Group by 14.4% during the first quarter, now owning 113,587 shares valued at approximately $10.43 million.
• A significant number of institutional investors, including Invesco Ltd. and Charles Schwab Investment Management, have also substantially increased their stakes in T. Rowe Price Group, underscoring strong institutional interest.
• T. Rowe Price Group declared a quarterly dividend of $1.27 per share, representing an annualized dividend yield of 4.8%, with the ex-dividend date set for September 15.

Russell Investments Group Ltd. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 14.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 113,587 shares of the asset manager's stock after purchasing an additional 14,285 shares during the period. Russell Investments Group Ltd. owned 0.05% of T. Rowe Price Group worth $10,428,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TROW. Invesco Ltd. grew 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 acquiring an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 519,075 shares in the last quarter. Fayez Sarofim & Co grew its stake in T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after purchasing an additional 425,142 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in T. Rowe Price Group by 28.2% in the fourth 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 purchasing an additional 387,604 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after purchasing an additional 329,761 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were 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 in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

TROW has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Barclays reissued an "underweight" rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Morgan Stanley lifted their price target 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. Wells Fargo & Company increased their price objective on shares of 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. Finally, 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. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $101.09.

T. Rowe Price Group Stock Down 0.4%

TROW stock opened at $106.64 on Tuesday. The firm has a market capitalization of $23.43 billion, a PE ratio of 11.92, a P/E/G ratio of 2.91 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The stock's 50 day moving average is $101.17 and its 200-day moving average is $97.61.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating 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 quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 EPS. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

T. Rowe Price Group Company 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.

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