Dimensional Fund Advisors LP Boosts Stake in T. Rowe Price Group, Inc. $TROW

Dimensional Fund Advisors LP increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,090,249 shares of the asset manager’s stock after acquiring an additional 64,791 shares during the period. Dimensional Fund Advisors LP’s holdings in T. Rowe Price Group were worth $214,557,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its position in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at approximately $30,000. Salomon & Ludwin LLC increased its position in shares of T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after buying an additional 145 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $90.40 on Friday. The stock has a 50 day moving average price of $100.33 and a 200 day moving average price of $102.79. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.22. The stock 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 (NASDAQ:TROW) last announced its quarterly earnings data 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). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the business posted $2.12 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $1.30 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Monday, March 16th. T. Rowe Price Group’s payout ratio is 54.92%.

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 dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TROW shares. The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a research note on Thursday, February 5th. Barclays set a $94.00 price objective on shares of T. Rowe Price Group in a research report on Thursday, February 5th. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a report on Thursday, February 5th. Morgan Stanley dropped their target price on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 10th. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $101.69.

T. Rowe Price Group Company 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.