22,409 T. Rowe Price Group, Inc. $TROW Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 229,387 shares of the asset manager’s stock after acquiring an additional 22,409 shares during the quarter. Pictet Asset Management Holding SA owned 0.11% of T. Rowe Price Group worth $23,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TROW. BlackRock Inc. acquired a new stake in T. Rowe Price Group in the 2nd quarter worth about $2,728,119,000. Legal & General Group Plc bought a new stake in T. Rowe Price Group in the 2nd quarter valued at about $183,130,000. Bank of America Corp DE acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth approximately $170,572,000. Bank of New York Mellon Corp acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth approximately $167,984,000. Finally, Caisse de depot et placement du Quebec acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth approximately $132,649,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Trading Down 0.2%

Shares of NASDAQ:TROW opened at $110.69 on Thursday. The firm has a 50 day moving average of $105.28 and a 200-day moving average of $103.84. The stock has a market capitalization of $23.61 billion, a PE ratio of 11.19, a PEG ratio of 4.25 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.23. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. T. Rowe Price Group had a net margin of 28.40% and a return on equity of 20.63%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 EPS. On average, research analysts predict that T. Rowe Price Group, Inc. will post 10.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Wednesday, December 16th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, December 16th. T. Rowe Price Group’s payout ratio is currently 52.58%.

Wall Street Analyst Weigh In

TROW has been the subject of a number of analyst reports. Evercore set a $109.00 price target on shares of T. Rowe Price Group in a research report on Friday, October 9th. Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Morgan Stanley raised their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Deutsche Bank reaffirmed a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, Barclays cut their target price on T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating for the company in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $102.83.

About T. Rowe Price Group

T. Rowe Price Group is a global investment management firm that provides investment products and related services to individuals, retirement plans, institutions and financial intermediaries. Founded in 1937 by Thomas Rowe Price Jr., the company is headquartered in Baltimore, Maryland. The firm manages a range of investment strategies, including equity, fixed-income and multi-asset portfolios. Its offerings include mutual funds, exchange-traded funds and separately managed accounts, as well as retirement-focused products and advisory services.