Sienna Gestion Increases Stock Holdings in T. Rowe Price Group, Inc. $TROW

Sienna Gestion raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,719 shares of the asset manager’s stock after purchasing an additional 11,238 shares during the period. Sienna Gestion owned 0.06% of T. Rowe Price Group worth $10,724,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TROW. Invesco Ltd. increased its stake in T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after purchasing an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after purchasing an additional 519,075 shares during the last quarter. ARGA Investment Management LP increased its stake in T. Rowe Price Group by 3,807.3% in the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after purchasing an additional 464,949 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in T. Rowe Price Group during the second quarter worth approximately $37,722,000. Finally, Vanguard Group Inc. increased its position in T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock worth $2,414,931,000 after buying an additional 222,556 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on TROW shares. Citigroup lifted their price target on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Bank of America lifted their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Evercore ISI lifted their price target on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Finally, Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $109.31.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $102.38 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a market cap of $22.49 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. The stock’s 50 day moving average price is $104.67 and its 200 day moving average price is $100.55.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $2.57 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

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.