T. Rowe Price Group, Inc. $TROW Shares Purchased by Royal Bank of Canada

Royal Bank of Canada raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 419,071 shares of the asset manager’s stock after buying an additional 15,530 shares during the period. Royal Bank of Canada owned about 0.20% of T. Rowe Price Group worth $37,776,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. State Street Corp lifted its position in shares of T. Rowe Price Group by 0.3% in the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after acquiring an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of T. Rowe Price Group by 332.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in T. Rowe Price Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after purchasing an additional 143,109 shares during the last quarter. First Trust Advisors LP lifted its holdings in T. Rowe Price Group by 12.6% in the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock valued at $332,993,000 after purchasing an additional 413,317 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in T. Rowe Price Group by 3.9% in the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after purchasing an additional 131,438 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 1.6%

Shares of TROW stock opened at $113.51 on Tuesday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The company’s 50-day moving average price is $111.97 and its 200-day moving average price is $102.18. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 4.01 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.45%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business earned $2.24 earnings per share. T. Rowe Price Group’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 10.11 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $1.30 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.6%. T. Rowe Price Group’s dividend payout ratio is 52.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TROW shares. TD Cowen upped their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a report on Monday. Jefferies Financial Group decreased their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Evercore set a $121.00 price target on shares of T. Rowe Price Group in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday. Finally, Barclays decreased their target price on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $105.92.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

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.