T. Rowe Price Group, Inc. $TROW Shares Purchased by Royal Bank of Canada

Royal Bank of Canada raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 419,071 shares of the asset manager’s stock after buying an additional 15,530 shares during the quarter. Royal Bank of Canada’s holdings in T. Rowe Price Group were worth $37,776,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Woodline Partners LP increased its holdings in T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after purchasing an additional 5,467 shares during the last quarter. Focus Partners Wealth lifted its stake in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after purchasing an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after buying an additional 478 shares during the period. Jump Financial LLC acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at $931,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of T. Rowe Price Group by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after buying an additional 1,703 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 1.6%

Shares of NASDAQ TROW opened at $113.51 on Tuesday. The stock has a market cap of $24.32 billion, a P/E ratio of 11.39, a PEG ratio of 4.01 and a beta of 1.47. The business’s fifty day simple moving average is $111.97 and its 200-day simple moving average is $102.18. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.45% and a net margin of 29.26%.The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm posted $2.24 EPS. T. Rowe Price Group’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 10.11 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group’s payout ratio is currently 52.16%.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the topic of several research reports. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a research report on Monday. Evercore set a $121.00 price target on shares of T. Rowe Price Group in a research note on Friday, July 10th. Jefferies Financial Group reduced their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $105.92.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.