T. Rowe Price Group, Inc. $TROW Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in T. Rowe Price by 3.2% in Q3 to 2,090,249 shares (about $214.6 million), representing roughly 0.96% of the company.
• T. Rowe Price reported quarterly EPS of $2.44 (missing estimates by $0.03) and revenue of $1.93 billion, up 6% year-over-year.
• T. Rowe Price raised its quarterly dividend to $1.30 (annualized $5.20), implying a 5.8% yield; the ex-dividend date is March 16 and the payment date is March 30.

Dimensional Fund Advisors LP grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,090,249 shares of the asset manager's stock after buying an additional 64,791 shares during the period. Dimensional Fund Advisors LP owned 0.96% of T. Rowe Price Group worth $214,557,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TROW. First Trust Advisors LP raised its stake in T. Rowe Price Group by 137.7% in the 2nd quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager's stock worth $332,101,000 after acquiring an additional 1,993,920 shares during the last quarter. Norges Bank purchased a new stake in T. Rowe Price Group during the 2nd quarter valued at about $82,756,000. ProShare Advisors LLC grew its stake in T. Rowe Price Group by 21.7% during the 2nd quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager's stock valued at $182,186,000 after purchasing an additional 337,112 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of T. Rowe Price Group by 160.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 506,588 shares of the asset manager's stock valued at $48,886,000 after purchasing an additional 311,987 shares during the period. Finally, AE Wealth Management LLC increased its holdings in shares of T. Rowe Price Group by 11,027.9% in the second quarter. AE Wealth Management LLC now owns 245,037 shares of the asset manager's stock valued at $23,646,000 after purchasing an additional 242,835 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the business's stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Down 1.8%

Shares of TROW opened at $90.40 on Friday. The company has a market capitalization of $19.71 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 4.67 and a beta of 1.54. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.22. The stock's 50-day moving average price is $100.33 and its 200-day moving average price is $102.79.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the prior year, the business posted $2.12 earnings per share. The firm's revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $1.30 per share. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. T. Rowe Price Group's payout ratio is presently 54.92%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TROW. Barclays set a $94.00 target price on T. Rowe Price Group in a report on Thursday, February 5th. Weiss Ratings reiterated a "hold (c+)" rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $123.00 to $115.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 10th. Argus raised shares of T. Rowe Price Group to a "hold" rating in a report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of T. Rowe Price Group from $106.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday, February 5th. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and an average target price of $101.69.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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