Metis Global Partners LLC Grows Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Metis Global Partners LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,805 shares of the asset manager’s stock after purchasing an additional 338 shares during the period. Metis Global Partners LLC’s holdings in T. Rowe Price Group were worth $1,395,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its stake in shares of T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after acquiring an additional 220,105 shares during the last quarter. AQR Capital Management LLC increased its stake in T. Rowe Price Group by 77.2% during the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after purchasing an additional 196,565 shares in the last quarter. Burney Co. purchased a new position in T. Rowe Price Group in the 2nd quarter worth approximately $20,938,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of T. Rowe Price Group by 1,328.0% in the second quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock worth $18,681,000 after purchasing an additional 150,665 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 in the company, valued at $12,712,255.92. This represents a 8.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of 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. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. TD Cowen dropped their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Barclays upped their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $115.55.

T. Rowe Price Group Stock Down 0.9 %

TROW stock opened at $118.77 on Friday. The business’s 50-day moving average price is $110.77 and its 200-day moving average price is $112.16. The stock has a market cap of $26.39 billion, a P/E ratio of 12.99, a PEG ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $96.46 and a twelve month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share 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 revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.17 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.18%. 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.