Vantage Investment Partners LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,776 shares of the asset manager's stock after purchasing an additional 11,244 shares during the period. Vantage Investment Partners LLC owned about 0.05% of T. Rowe Price Group worth $13,114,000 as of its most recent SEC filing.
- 10-year yield is below 4.5%...these dividend growth yields aren’t
A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of T. Rowe Price Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager's stock worth $3,051,553,000 after purchasing an additional 625,340 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager's stock worth $513,874,000 after buying an additional 134,839 shares during the last quarter. Morgan Stanley increased its stake in shares of T. Rowe Price Group by 0.7% in the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager's stock worth $365,299,000 after buying an additional 25,012 shares during the last quarter. Northern Trust Corp increased its stake in shares of T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager's stock worth $247,088,000 after buying an additional 93,829 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of T. Rowe Price Group by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager's stock worth $238,167,000 after buying an additional 44,175 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on TROW. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an "underweight" rating in a research note on Friday, February 9th. UBS Group lifted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a "sell" rating in a research note on Friday, April 12th. Citigroup lifted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, April 5th. StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an "underperform" rating to a "market perform" rating and boosted their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of "Hold" and an average price target of $112.67.
Check Out Our Latest Stock Report on TROW
Insider Transactions at T. Rowe Price Group
In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company's stock, valued at $2,493,357.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the company's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company's stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.
T. Rowe Price Group Stock Performance
T. Rowe Price Group stock opened at $108.73 on Friday. The company has a 50-day simple moving average of $114.72 and a 200-day simple moving average of $106.78. The firm has a market capitalization of $24.32 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.04 and a beta of 1.40. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 earnings per share. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.
T. Rowe Price Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.56%. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.22. T. Rowe Price Group's dividend payout ratio is currently 63.92%.
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.
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