Van ECK Associates Corp Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Van ECK Associates Corp boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,496 shares of the asset manager's stock after purchasing an additional 5,109 shares during the quarter. Van ECK Associates Corp's holdings in T. Rowe Price Group were worth $10,022,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TROW. Envestnet Portfolio Solutions Inc. lifted its holdings in T. Rowe Price Group by 52.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager's stock valued at $7,990,000 after acquiring an additional 22,533 shares during the last quarter. Forsta AP Fonden boosted its holdings in T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager's stock worth $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Mizuho Markets Americas LLC raised its position in shares of T. Rowe Price Group by 90.0% in the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager's stock valued at $11,057,000 after purchasing an additional 42,949 shares during the period. Savant Capital LLC raised its holdings in T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager's stock worth $3,792,000 after acquiring an additional 8,816 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in T. Rowe Price Group by 4.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager's stock worth $20,890,000 after buying an additional 6,780 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business's stock in a transaction on Friday, September 6th. The shares were 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 of the company's stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares of the company's stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TROW. Evercore ISI upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a report on Thursday. JPMorgan Chase & Co. lowered their target price 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. The Goldman Sachs Group cut their price objective on 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. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Finally, StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $115.09.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $0.95 during midday trading on Thursday, reaching $120.36. The company's stock had a trading volume of 599,118 shares, compared to its average volume of 1,259,873. The firm has a market capitalization of $26.74 billion, a PE ratio of 13.24, a P/E/G ratio of 1.73 and a beta of 1.41. T. Rowe Price Group, Inc. has a fifty-two week low of $90.02 and a fifty-two week high of $122.27. The stock's 50 day simple moving average is $108.79 and its 200 day simple moving average is $111.82.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 EPS. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.27 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.12%. T. Rowe Price Group's dividend payout ratio is 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.