CANADA LIFE ASSURANCE Co raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 71.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 321,392 shares of the asset manager's stock after acquiring an additional 134,116 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.14% of T. Rowe Price Group worth $36,319,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in TROW. Vanguard Group Inc. boosted its holdings in T. Rowe Price Group by 0.5% in the fourth 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. grew its holdings in T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock worth $812,798,000 after acquiring an additional 346,369 shares during the period. Geode Capital Management LLC grew its holdings in T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after acquiring an additional 116,231 shares during the period. Provident Trust Co. raised its position in 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 valued at $295,311,000 after acquiring an additional 213,566 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in T. Rowe Price Group by 1.7% in the fourth quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock valued at $271,169,000 after acquiring an additional 40,514 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 36,800 shares of the company's stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.
Analysts Set New Price Targets
TROW has been the subject of several recent research reports. Bank of America cut their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Barclays lowered their price target on T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and an average price target of $96.00.
Get Our Latest Stock Analysis on T. Rowe Price Group
T. Rowe Price Group Stock Performance
NASDAQ TROW opened at $86.11 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The business has a fifty day moving average price of $95.65 and a 200 day moving average price of $108.40. The company has a market cap of $19.14 billion, a P/E ratio of 9.40, a P/E/G ratio of 2.86 and a beta of 1.50.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 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 quarter last year, the firm earned $1.72 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.
T. Rowe Price Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $1.27 per share. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group's payout ratio is currently 55.46%.
About T. Rowe Price Group
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider T. Rowe Price Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and T. Rowe Price Group wasn't on the list.
While T. Rowe Price Group currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
