Caisse DE Depot ET Placement DU Quebec Acquires 315,581 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Caisse DE Depot ET Placement DU Quebec increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 382.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 398,175 shares of the asset manager's stock after purchasing an additional 315,581 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.18% of T. Rowe Price Group worth $43,373,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Iron Horse Wealth Management LLC boosted its stake in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock valued at $25,000 after buying an additional 110 shares in the last quarter. Lynx Investment Advisory bought a new position in shares of T. Rowe Price Group during the second quarter valued at $29,000. Hexagon Capital Partners LLC boosted its stake in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. bought a new stake in shares of T. Rowe Price Group in the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc grew its stake in T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock worth $38,000 after buying an additional 284 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TROW. JPMorgan Chase & Co. reduced their target price on 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 boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Barclays raised their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the company an "underweight" rating in a research note on Monday, November 4th. The Goldman Sachs Group cut their price target 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. Finally, Wells Fargo & Company increased their price objective 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. Four investment 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.com, the stock currently has an average rating of "Hold" and an average target price of $115.55.

T. Rowe Price Group Trading Down 0.2 %

Shares of TROW traded down $0.20 on Monday, reaching $123.64. 1,239,365 shares of the company's stock were exchanged, compared to its average volume of 1,267,824. T. Rowe Price Group, Inc. has a 12 month low of $97.50 and a 12 month high of $124.83. The stock has a market capitalization of $27.47 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. The business has a 50 day moving average price of $113.76 and a two-hundred day moving average price of $112.82.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate 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 company 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 posted $2.17 EPS. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS 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. Stockholders of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.01%. T. Rowe Price Group's payout ratio is currently 54.27%.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on 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 directly owns 13,939 shares of the company's stock, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.