Plato Investment Management Ltd Raises Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Plato Investment Management Ltd grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the 3rd quarter, Holdings Channel reports. The fund owned 14,872 shares of the asset manager’s stock after buying an additional 223 shares during the quarter. Plato Investment Management Ltd’s holdings in T. Rowe Price Group were worth $1,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Forsta AP Fonden boosted its holdings in T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after buying an additional 17,100 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after buying an additional 42,949 shares in the last quarter. Savant Capital LLC boosted its holdings in T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after buying an additional 8,816 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after buying an additional 6,780 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in T. Rowe Price Group by 3.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager’s stock worth $29,105,000 after buying an additional 9,519 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $119.80 on Friday. The firm has a 50 day simple moving average of $110.11 and a 200-day simple moving average of $112.06. The firm has a market cap of $26.61 billion, a PE ratio of 13.11, a P/E/G ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $96.46 and a 1-year 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 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the business posted $2.17 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Buying and Selling

In related 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 shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 of the company’s stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $115.55.

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.