Matrix Trust Co lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,767 shares of the asset manager’s stock after buying an additional 1,019 shares during the quarter. Matrix Trust Co’s holdings in T. Rowe Price Group were worth $1,670,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after acquiring an additional 1,100 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $15,907,000. Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter worth $516,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have issued reports on TROW. JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. TD Cowen cut their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Barclays increased their price target on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $117.00.
Insider Buying and Selling at T. Rowe Price Group
In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.
T. Rowe Price Group Price Performance
Shares of T. Rowe Price Group stock opened at $108.55 on Monday. The business has a 50-day moving average of $118.21 and a 200 day moving average of $112.92. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The stock has a market capitalization of $24.12 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.17 EPS. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.
T. Rowe Price Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.
About T. Rowe Price Group
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.
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