T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Bank of Montreal Can

Bank of Montreal Can raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 752,530 shares of the asset manager's stock after purchasing an additional 66,444 shares during the period. Bank of Montreal Can owned 0.34% of T. Rowe Price Group worth $85,104,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TROW. Vanguard Group Inc. lifted its holdings in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after purchasing an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock worth $812,798,000 after purchasing an additional 346,369 shares during the period. Geode Capital Management LLC increased its stake in T. Rowe Price Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after purchasing an additional 116,231 shares during the period. Provident Trust Co. boosted its stake in shares of T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock worth $295,311,000 after buying an additional 213,566 shares during the period. Finally, Fisher Asset Management LLC increased its position in T. Rowe Price Group by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager's stock valued at $211,529,000 after acquiring an additional 8,992 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have weighed in on TROW. Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Morgan Stanley dropped their target price on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating on the stock in a report on Thursday, April 3rd. Finally, Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and an average target price of $101.36.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded up $0.78 during trading on Monday, reaching $89.52. The company had a trading volume of 622,950 shares, compared to its average volume of 1,434,723. The firm has a market capitalization of $19.90 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 2.86 and a beta of 1.50. The stock's 50 day moving average price is $97.98 and its two-hundred day moving average price is $109.16. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the business posted $1.72 earnings per share. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.67%. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is presently 55.46%.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares of the company's stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

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.