Korea Investment CORP Has $11.32 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Korea Investment CORP boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 63.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,306 shares of the asset manager’s stock after purchasing an additional 45,668 shares during the quarter. Korea Investment CORP owned about 0.05% of T. Rowe Price Group worth $11,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. raised its position in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of T. Rowe Price Group in the first quarter worth about $27,000. Vermillion & White Wealth Management Group LLC grew its position in T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after acquiring an additional 174 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $35,000. Finally, Curio Wealth LLC raised its stake in shares of T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 414 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $102.44 on Monday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock has a market capitalization of $22.36 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51. The company’s 50-day moving average is $102.83 and its 200-day moving average is $101.89.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.57 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research report on Tuesday, November 25th. Bank of America raised their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Barclays set a $101.00 target price on T. Rowe Price Group in a report on Monday, November 3rd. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a report on Monday, November 3rd. Finally, BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $109.00.

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.