Principal Financial Group Inc. grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 275,978 shares of the asset manager's stock after buying an additional 7,503 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of T. Rowe Price Group worth $30,062,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of TROW. Forsta AP Fonden raised 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 period. Mizuho Markets Americas LLC raised its position in shares of T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager's stock worth $11,057,000 after purchasing an additional 42,949 shares during the period. Savant Capital LLC raised its position in shares of T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager's stock worth $3,792,000 after purchasing an additional 8,816 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager's stock worth $20,890,000 after purchasing an additional 6,780 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of T. Rowe Price Group by 3.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager's stock worth $29,105,000 after purchasing an additional 9,519 shares during the period. 73.39% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm's 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 transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group 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 sale, the insider now owns 13,939 shares of the company's stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm's stock in a transaction dated 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 completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research firms recently commented on TROW. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. TD Cowen lowered their price target on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Monday, November 4th. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company increased their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. Finally, Evercore ISI upped their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of "Hold" and an average target price of $115.55.
Get Our Latest Report on TROW
T. Rowe Price Group Trading Up 1.5 %
Shares of TROW stock traded up $1.80 on Wednesday, hitting $119.87. 377,726 shares of the stock were exchanged, compared to its average volume of 1,258,263. The firm has a market capitalization of $26.63 billion, a PE ratio of 13.02, a P/E/G ratio of 1.72 and a beta of 1.41. T. Rowe Price Group, Inc. has a one year low of $94.47 and a one year high of $122.27. The firm's 50 day moving average is $109.83 and its two-hundred day moving average is $112.02.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during 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 firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.17 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.
T. Rowe Price Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.14%. T. Rowe Price Group's dividend payout ratio is currently 54.27%.
T. Rowe Price Group Company Profile
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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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