T. Rowe Price Group, Inc. $TROW Stock: Alps Advisors Inc. Raises Stake

Alps Advisors Inc. boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.0% during the third quarter, Holdings Channel.com reports. The fund owned 297,039 shares of the asset manager’s stock after acquiring an additional 8,708 shares during the period. Alps Advisors Inc.’s holdings in T. Rowe Price Group were worth $30,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in T. Rowe Price Group in the second quarter valued at $2,728,119,000. State Street Corp lifted its stake in shares of T. Rowe Price Group by 2.7% in the 2nd quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock worth $1,665,954,000 after acquiring an additional 381,183 shares during the period. First Trust Advisors LP boosted its holdings in T. Rowe Price Group by 12.6% during the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock valued at $332,993,000 after acquiring an additional 413,317 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of T. Rowe Price Group by 20.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock valued at $358,187,000 after purchasing an additional 524,544 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of T. Rowe Price Group by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,124,696 shares of the asset manager’s stock worth $191,512,000 after purchasing an additional 37,642 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TROW. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. BMO Capital Markets reduced their target price on T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating for the company in a research note on Tuesday, October 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 target price (up from $112.00) on shares of T. Rowe Price Group in a research report on Friday, October 30th. Finally, Evercore set a $109.00 price objective on shares of T. Rowe Price Group in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $102.83.

T. Rowe Price Group Stock Down 0.3%

Shares of TROW stock opened at $108.41 on Friday. The company has a market cap of $23.13 billion, a P/E ratio of 10.96, a PEG ratio of 3.39 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The business has a 50 day moving average of $105.26 and a two-hundred day moving average of $103.78.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.23. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.98 billion. T. Rowe Price Group had a return on equity of 20.63% and a net margin of 28.40%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $2.81 EPS. Analysts expect that T. Rowe Price Group, Inc. will post 10.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Wednesday, December 16th will be issued a $1.30 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is presently 52.58%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.