Royal London Asset Management Ltd. Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Royal London Asset Management Ltd. boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,563 shares of the asset manager's stock after purchasing an additional 5,253 shares during the period. Royal London Asset Management Ltd.'s holdings in T. Rowe Price Group were worth $9,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Investment Management Corp of Ontario increased its position in shares of T. Rowe Price Group by 48.2% during the third quarter. Investment Management Corp of Ontario now owns 7,383 shares of the asset manager's stock worth $804,000 after acquiring an additional 2,400 shares during the period. Janus Henderson Group PLC increased its position in shares of T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock worth $3,267,000 after acquiring an additional 1,100 shares during the period. HighTower Advisors LLC increased its position in shares of T. Rowe Price Group by 55.4% during the third quarter. HighTower Advisors LLC now owns 132,338 shares of the asset manager's stock worth $14,418,000 after acquiring an additional 47,180 shares during the period. Centiva Capital LP increased its position in shares of T. Rowe Price Group by 49.5% during the third quarter. Centiva Capital LP now owns 6,444 shares of the asset manager's stock worth $702,000 after acquiring an additional 2,133 shares during the period. Finally, Benjamin Edwards Inc. increased its position in shares of T. Rowe Price Group by 9,315.2% during the third quarter. Benjamin Edwards Inc. now owns 80,594 shares of the asset manager's stock worth $8,779,000 after acquiring an additional 79,738 shares during the period. Institutional investors own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research reports. 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. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a report on Monday, November 11th. Wells Fargo & Company lifted 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, The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and an average target price of $115.55.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Down 0.7 %

Shares of T. Rowe Price Group stock traded down $0.86 during trading hours on Friday, reaching $123.83. The stock had a trading volume of 1,092,898 shares, compared to its average volume of 1,249,661. The stock's 50 day moving average is $115.26 and its 200 day moving average is $113.09. The firm has a market capitalization of $27.51 billion, a PE ratio of 13.55, a PEG ratio of 1.73 and a beta of 1.42. T. Rowe Price Group, Inc. has a twelve month low of $97.50 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. The company's quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.01%. T. Rowe Price Group's payout ratio is 54.27%.

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.