National Bank of Canada FI increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 50.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 301,242 shares of the asset manager's stock after buying an additional 100,430 shares during the quarter. National Bank of Canada FI owned 0.14% of T. Rowe Price Group worth $27,673,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Marshall Wace LLP acquired a new position in T. Rowe Price Group during the fourth quarter valued at approximately $63,284,000. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 7.2% during the first 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 during the last quarter. Fayez Sarofim & Co lifted its position in shares of 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 buying an additional 425,142 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 valued at $199,367,000 after buying an additional 387,604 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of 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 valued at $30,612,000 after buying an additional 329,761 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.
T. Rowe Price Group Price Performance
T. Rowe Price Group stock traded down $0.81 during mid-day trading on Thursday, reaching $109.14. 743,385 shares of the company were exchanged, compared to its average volume of 1,813,320. The company has a fifty day simple moving average of $100.36 and a 200-day simple moving average of $98.02. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a market cap of $23.98 billion, a PE ratio of 12.19, a PEG ratio of 2.93 and a beta of 1.47.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company earned $2.26 EPS. The company's revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.
T. Rowe Price Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on TROW. Morgan Stanley raised their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods raised their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Evercore ISI raised their price objective on T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company raised their price objective on 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. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $101.09.
Check Out Our Latest Stock Analysis on T. Rowe Price Group
T. Rowe Price Group Profile
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Free Report)
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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