Robeco Institutional Asset Management B.V. Purchases 5,980 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Robeco Institutional Asset Management B.V. lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 47,793 shares of the asset manager’s stock after purchasing an additional 5,980 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in T. Rowe Price Group were worth $5,206,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after acquiring an additional 1,054,461 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares during the period. AQR Capital Management LLC increased its holdings in T. Rowe Price Group by 77.2% in the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares in the last quarter. Burney Co. acquired a new position in T. Rowe Price Group in the second quarter valued at approximately $20,938,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of T. Rowe Price Group by 1,328.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock worth $18,681,000 after buying an additional 150,665 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of 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. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Barclays boosted their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $117.62 on Friday. The firm has a 50-day moving average of $109.33 and a 200-day moving average of $111.92. T. Rowe Price Group, Inc. has a one year low of $90.02 and a one year high of $122.27. The company has a market cap of $26.13 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.76 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 EPS. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.32 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Profile

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.