iA Global Asset Management Inc. Acquires 4,240 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

iA Global Asset Management Inc. raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 53.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,105 shares of the asset manager's stock after purchasing an additional 4,240 shares during the quarter. iA Global Asset Management Inc.'s holdings in T. Rowe Price Group were worth $1,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Forsta AP Fonden lifted its position in shares of T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager's stock worth $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Savant Capital LLC raised its holdings in shares of T. Rowe Price Group by 36.6% in the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager's stock valued at $3,792,000 after acquiring an additional 8,816 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of T. Rowe Price Group in the second quarter valued at about $15,907,000. Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group in the third quarter valued at about $516,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after acquiring an additional 231,286 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 0.2 %

NASDAQ:TROW traded down $0.24 during trading hours on Monday, reaching $123.59. 1,133,217 shares of the stock were exchanged, compared to its average volume of 1,267,985. The stock has a market capitalization of $27.46 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.75 and a beta of 1.42. The firm has a 50 day simple moving average of $115.55 and a 200-day simple moving average of $113.11. T. Rowe Price Group, Inc. has a 52 week low of $97.50 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. During the same quarter in the previous year, the company earned $2.17 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. 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 payout ratio is presently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the 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 transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a report on Monday, November 11th. 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. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a report on Monday, November 4th. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 9th. Finally, TD Cowen cut their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating on the stock in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has an average rating of "Hold" and a consensus target price of $116.00.

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.