T. Rowe Price Group, Inc. $TROW Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in T. Rowe Price by 88.9% in Q4, adding 55,896 shares to hold 118,749 shares (~$12.16M), while overall institutional ownership is about 73.39% with several large funds also boosting positions.
• T. Rowe Price slightly missed quarterly EPS ($2.44 vs. $2.47 est.) but saw revenue rise 6% to $1.93B; the stock trades near $99.49 with a market cap of $21.65B and a P/E of 10.76.
• The company raised its quarterly dividend to $1.30 (annualized $5.20) for a ~5.2% yield, even as analysts' consensus is negative ("Reduce") with an average target of about $96.85.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 88.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,749 shares of the asset manager's stock after acquiring an additional 55,896 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of T. Rowe Price Group worth $12,158,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Northern Trust Corp grew its holdings in shares of T. Rowe Price Group by 6.4% during the third quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager's stock valued at $259,588,000 after buying an additional 152,451 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of T. Rowe Price Group by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager's stock worth $214,557,000 after purchasing an additional 64,791 shares during the period. Caisse de depot et placement du Quebec lifted its holdings in shares of T. Rowe Price Group by 81.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager's stock worth $134,142,000 after purchasing an additional 584,949 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of T. Rowe Price Group by 5.5% during the third quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager's stock worth $89,614,000 after purchasing an additional 45,845 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of T. Rowe Price Group by 24.8% during the third quarter. Allianz Asset Management GmbH now owns 767,672 shares of the asset manager's stock worth $78,794,000 after purchasing an additional 152,318 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.7%

NASDAQ TROW opened at $99.49 on Friday. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 4.34 and a beta of 1.50. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22. The stock has a 50-day moving average of $92.19 and a 200 day moving average of $99.42.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 EPS. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.69 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.2%. The ex-dividend date was Monday, March 16th. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.27. T. Rowe Price Group's payout ratio is presently 56.22%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. TD Cowen reduced their target price on shares of T. Rowe Price Group from $97.00 to $93.00 and set a "hold" rating for the company in a report on Thursday, April 9th. Argus raised shares of T. Rowe Price Group to a "hold" rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods dropped their target price on T. Rowe Price Group from $110.00 to $95.00 and set a "market perform" rating on the stock in a report on Wednesday, April 8th. Jefferies Financial Group dropped their target price on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a report on Wednesday, April 8th. Finally, Bank of America raised their target price on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Ten equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $96.85.

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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