Geode Capital Management LLC Boosts Stake in T. Rowe Price Group, Inc. $TROW

Geode Capital Management LLC increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% in the 2nd quarter, Holdings Channel reports. The fund owned 6,014,236 shares of the asset manager’s stock after buying an additional 197,024 shares during the quarter. Geode Capital Management LLC’s holdings in T. Rowe Price Group were worth $578,059,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI increased its position in shares of T. Rowe Price Group by 74.1% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 19,905 shares of the asset manager’s stock valued at $1,829,000 after purchasing an additional 8,473 shares during the last quarter. PARK CIRCLE Co boosted its stake in T. Rowe Price Group by 20.2% in the first quarter. PARK CIRCLE Co now owns 64,345 shares of the asset manager’s stock worth $5,911,000 after buying an additional 10,800 shares in the last quarter. Apollon Wealth Management LLC grew its position in T. Rowe Price Group by 56.8% during the first quarter. Apollon Wealth Management LLC now owns 12,228 shares of the asset manager’s stock valued at $1,123,000 after acquiring an additional 4,431 shares during the last quarter. Level Four Advisory Services LLC raised its stake in shares of T. Rowe Price Group by 4.2% during the first quarter. Level Four Advisory Services LLC now owns 102,084 shares of the asset manager’s stock worth $9,379,000 after acquiring an additional 4,141 shares in the last quarter. Finally, Kestra Investment Management LLC lifted its holdings in shares of T. Rowe Price Group by 268.4% in the 1st quarter. Kestra Investment Management LLC now owns 35,402 shares of the asset manager’s stock worth $3,252,000 after acquiring an additional 25,793 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $101.72 on Friday. The stock’s 50-day moving average is $104.02 and its 200 day moving average is $101.23. The company has a market cap of $22.20 billion, a PE ratio of 11.37, a P/E/G ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

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

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $1.27 dividend. 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 dividend payout ratio (DPR) is currently 55.34%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America increased their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Morgan Stanley boosted their target price on T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. BMO Capital Markets started coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $109.38.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

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.