Royal London Asset Management Ltd. Buys 1,440 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Royal London Asset Management Ltd. boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,811 shares of the asset manager’s stock after buying an additional 1,440 shares during the quarter. Royal London Asset Management Ltd.’s holdings in T. Rowe Price Group were worth $9,241,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in shares of T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after purchasing an additional 892,198 shares during the last quarter. UBS Group AG grew its stake in T. Rowe Price Group by 473.3% during the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after buying an additional 805,106 shares during the last quarter. Norges Bank acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth approximately $80,831,000. Hsbc Holdings PLC raised its position in T. Rowe Price Group by 66.8% in the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after purchasing an additional 306,524 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in T. Rowe Price Group by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after purchasing an additional 236,697 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 0.4 %

NASDAQ TROW traded down $0.43 on Friday, reaching $114.90. The company had a trading volume of 768,641 shares, compared to its average volume of 1,030,854. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The stock’s 50 day moving average is $114.37 and its 200-day moving average is $111.65. The stock has a market cap of $25.66 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.96 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.69 EPS. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on TROW. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Evercore ISI reduced their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Morgan Stanley lifted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Finally, Citigroup upped their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $112.10.

View Our Latest Report on T. Rowe Price Group

T. Rowe Price Group Company Profile

(Free Report)

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

See Also

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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