The Manufacturers Life Insurance Company Has $15.41 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

The Manufacturers Life Insurance Company trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,450 shares of the asset manager’s stock after selling 243 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of T. Rowe Price Group worth $15,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. boosted its stake in T. Rowe Price Group by 33.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,958 shares of the asset manager’s stock valued at $483,000 after purchasing an additional 997 shares during the last quarter. Tidal Investments LLC lifted its position in shares of T. Rowe Price Group by 21.4% during the first quarter. Tidal Investments LLC now owns 6,303 shares of the asset manager’s stock valued at $768,000 after purchasing an additional 1,110 shares in the last quarter. Swedbank AB purchased a new position in T. Rowe Price Group in the first quarter valued at about $1,495,000. Cetera Investment Advisers raised its stake in shares of T. Rowe Price Group by 175.6% in the first quarter. Cetera Investment Advisers now owns 43,261 shares of the asset manager’s stock valued at $5,274,000 after buying an additional 27,565 shares during the period. Finally, Cetera Advisors LLC raised its stake in T. Rowe Price Group by 156.3% in the 1st quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock valued at $2,051,000 after acquiring an additional 10,260 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Down 0.3 %

NASDAQ:TROW opened at $123.84 on Monday. The company has a market cap of $27.51 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. The company has a 50 day simple moving average of $113.76 and a two-hundred day simple moving average of $112.82. T. Rowe Price Group, Inc. has a 12 month low of $97.50 and a 12 month high of $124.83.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TROW. TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Company 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.