iA Global Asset Management Inc. Has $1.05 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

iA Global Asset Management Inc. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,391 shares of the asset manager’s stock after purchasing an additional 1,503 shares during the period. iA Global Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in TROW. Marshall Wace LLP acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $63,284,000. Fayez Sarofim & Co increased its stake in T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after acquiring an additional 425,142 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in T. Rowe Price Group by 28.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock worth $199,367,000 after acquiring an additional 387,604 shares during the period. GAMMA Investing LLC raised its holdings in T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after acquiring an additional 329,761 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $32,332,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.2%

Shares of TROW stock opened at $105.42 on Thursday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The stock’s fifty day simple moving average is $99.07 and its 200 day simple moving average is $98.27. The firm has a market capitalization of $23.16 billion, a P/E ratio of 11.78, a P/E/G ratio of 2.87 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business posted $2.26 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group’s dividend payout ratio is 56.76%.

Analyst Ratings Changes

TROW has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday. Citigroup decreased their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods raised their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a report on Monday. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley raised their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research note on Monday. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.09.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider owned 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares of the company’s stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.