APG Asset Management N.V. lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 329,885 shares of the asset manager’s stock after buying an additional 11,100 shares during the quarter. APG Asset Management N.V. owned approximately 0.14% of T. Rowe Price Group worth $29,904,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Banque Pictet & Cie SA grew its position in T. Rowe Price Group by 80.8% in the first quarter. Banque Pictet & Cie SA now owns 84,000 shares of the asset manager’s stock valued at $5,725,000 after purchasing an additional 37,540 shares in the last quarter. Thrivent Financial For Lutherans grew its position in T. Rowe Price Group by 4.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 8,918 shares of the asset manager’s stock valued at $608,000 after acquiring an additional 360 shares during the last quarter. Croft Leominster Inc. raised its stake in T. Rowe Price Group by 3.5% in the first quarter. Croft Leominster Inc. now owns 410,085 shares of the asset manager’s stock valued at $27,947,000 after buying an additional 13,686 shares during the last quarter. Global X Management Co. LLC grew its holdings in T. Rowe Price Group by 1.7% during the first quarter. Global X Management Co. LLC now owns 4,641 shares of the asset manager’s stock worth $316,000 after acquiring an additional 76 shares during the period. Finally, Bailard Inc. purchased a new stake in T. Rowe Price Group in the first quarter valued at $225,000. 72.28% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on TROW. Morgan Stanley reaffirmed an “underweight” rating and issued a $71.00 price target (up previously from $70.00) on shares of T. Rowe Price Group in a report on Tuesday, July 18th. Credit Suisse Group AG lifted their price objective on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 26th. Citigroup Inc. boosted their price target on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Wells Fargo & Company restated a “market perform” rating on shares of T. Rowe Price Group in a research report on Thursday, July 27th. Finally, BidaskClub cut shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $89.50.
In other news, Director Anne M. Whittemore sold 4,163 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $90.64, for a total value of $377,334.32. Following the sale, the director now directly owns 29,070 shares of the company’s stock, valued at $2,634,904.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,000 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the sale, the insider now directly owns 8,461 shares in the company, valued at $713,177.69. The disclosure for this sale can be found here. Insiders have sold a total of 18,204 shares of company stock worth $1,640,922 over the last ninety days. Insiders own 3.60% of the company’s stock.
Shares of T. Rowe Price Group, Inc. (TROW) traded down $0.16 during trading on Tuesday, hitting $93.41. 1,067,000 shares of the stock were exchanged, compared to its average volume of 1,686,925. T. Rowe Price Group, Inc. has a 52-week low of $65.33 and a 52-week high of $97.35. The stock has a market capitalization of $22,672.95, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29.
T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business earned $1.17 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. analysts expect that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be issued a dividend of $0.57 per share. The ex-dividend date is Wednesday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.44%. T. Rowe Price Group’s dividend payout ratio (DPR) is 37.38%.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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