Principal Financial Group Inc. Purchases 7,503 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Principal Financial Group Inc. raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 275,978 shares of the asset manager's stock after purchasing an additional 7,503 shares during the period. Principal Financial Group Inc. owned 0.12% of T. Rowe Price Group worth $30,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock worth $745,169,000 after buying an additional 231,286 shares in the last quarter. Geode Capital Management LLC raised its holdings in T. Rowe Price Group by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager's stock worth $598,801,000 after purchasing an additional 25,481 shares in the last quarter. Victory Capital Management Inc. raised its holdings in T. Rowe Price Group by 3.8% during the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager's stock worth $396,207,000 after purchasing an additional 124,686 shares in the last quarter. American Century Companies Inc. lifted its position in T. Rowe Price Group by 4.5% in the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager's stock worth $289,750,000 after purchasing an additional 107,086 shares during the period. Finally, Provident Trust Co. boosted its stake in T. Rowe Price Group by 0.3% during the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager's stock valued at $261,185,000 after purchasing an additional 7,905 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company's stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TROW shares. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a report on Thursday, October 3rd. StockNews.com raised shares of T. Rowe Price Group from a "hold" rating to a "buy" rating in a report on Friday, December 20th. TD Cowen lowered their price objective on shares of 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. Barclays boosted their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "underweight" rating in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $117.00.

T. Rowe Price Group Stock Up 0.9 %

Shares of NASDAQ:TROW traded up $1.00 during trading on Wednesday, reaching $117.07. 357,386 shares of the company traded hands, compared to its average volume of 1,285,504. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The firm has a market cap of $26.01 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. The firm has a fifty day simple moving average of $117.78 and a 200 day simple moving average of $113.20.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.17 EPS. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 yield of 4.24%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group's payout ratio is presently 54.27%.

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.