First Trust Advisors LP Has $332.10 Million Stock Position in T. Rowe Price Group, Inc. $TROW

First Trust Advisors LP lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 137.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,441,458 shares of the asset manager’s stock after purchasing an additional 1,993,920 shares during the period. First Trust Advisors LP owned 1.57% of T. Rowe Price Group worth $332,101,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TROW. TD Waterhouse Canada Inc. boosted its holdings in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC raised its position in shares of T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares during the period. Atlantic Union Bankshares Corp bought a new position in T. Rowe Price Group during the 2nd quarter worth approximately $35,000. Finally, Curio Wealth LLC grew its holdings in 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 purchasing an additional 414 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $105.05 on Thursday. The firm has a market cap of $22.93 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 3.35 and a beta of 1.53. The stock’s 50-day moving average is $102.75 and its 200-day moving average is $101.97. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $2.57 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.34%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of the business’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 sale, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several analyst reports. Bank of America increased their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. BMO Capital Markets initiated coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective on the stock. Barclays set a $101.00 target price on T. Rowe Price Group in a research note on Monday, November 3rd. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. Finally, Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $109.00.

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.