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

Bank of Montreal Can lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 686,086 shares of the asset manager’s stock after purchasing an additional 35,922 shares during the quarter. Bank of Montreal Can owned approximately 0.31% of T. Rowe Price Group worth $75,133,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Forsta AP Fonden increased its holdings in shares of T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after acquiring an additional 17,100 shares during the period. Savant Capital LLC raised its holdings in shares of T. Rowe Price Group by 36.6% in the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after buying an additional 8,816 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of T. Rowe Price Group during the second quarter worth about $15,907,000. Aigen Investment Management LP purchased a new position in shares of T. Rowe Price Group during the third quarter worth about $516,000. Finally, Cetera Advisors LLC increased its position in T. Rowe Price Group by 156.3% in the 1st quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock valued at $2,051,000 after acquiring an additional 10,260 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of several analyst reports. Barclays boosted their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Evercore ISI raised 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 research note on Thursday, November 7th. Finally, TD Cowen dropped their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $115.55.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 8.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction 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 completion of the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 0.8 %

Shares of TROW stock opened at $123.95 on Wednesday. The company has a market capitalization of $27.54 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.73 and a beta of 1.41. The firm has a 50-day moving average price of $112.86 and a 200 day moving average price of $112.61. T. Rowe Price Group, Inc. has a twelve month low of $96.48 and a twelve month high of $124.31.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 earnings per share. As a group, research 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 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.