Robeco Institutional Asset Management B.V. Increases Stake in T. Rowe Price Group, Inc. $TROW

by · The Cerbat Gem

Robeco Institutional Asset Management B.V. grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 38.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,312 shares of the asset manager’s stock after purchasing an additional 18,764 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in T. Rowe Price Group were worth $6,909,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. TFG Advisers LLC boosted its position in T. Rowe Price Group by 3.6% during the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after acquiring an additional 97 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Bill Few Associates Inc. grew its position in shares of T. Rowe Price Group by 4.3% in the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 107 shares in the last quarter. Dakota Wealth Management increased its holdings in shares of T. Rowe Price Group by 4.7% in the second quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after purchasing an additional 114 shares during the last quarter. Finally, Beacon Investment Advisors LLC increased its holdings in shares of T. Rowe Price Group by 1.2% in the second quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 120 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $107.31 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $118.32. The firm has a market cap of $23.42 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.75 and a beta of 1.52. The company has a 50-day moving average of $103.29 and a two-hundred day moving average of $103.94.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 16th. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Barclays raised their price objective on shares of T. Rowe Price Group from $101.00 to $102.00 and gave the stock an “underweight” rating in a research report on Friday, December 12th. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a report on Tuesday, November 25th. Finally, Morgan Stanley increased their price target on shares of T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Twelve research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $108.31.

Get Our Latest Stock Analysis on T. Rowe Price Group

T. Rowe Price Group Company Profile

(Free Report)

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.

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