National Pension Service Acquires 2,457 Shares of T. Rowe Price Group, Inc. $TROW

National Pension Service raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402,918 shares of the asset manager’s stock after buying an additional 2,457 shares during the period. National Pension Service’s holdings in T. Rowe Price Group were worth $38,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in T. Rowe Price Group in the first quarter worth approximately $27,000. Atlantic Union Bankshares Corp purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $35,000. Curio Wealth LLC grew its position in shares of T. Rowe Price Group by 20,700.0% during the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after buying an additional 414 shares in the last quarter. Cromwell Holdings LLC increased its stake in shares of T. Rowe Price Group by 3,483.3% during the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after buying an additional 418 shares during the period. Finally, Bogart Wealth LLC raised its holdings in shares of T. Rowe Price Group by 1,787.5% in the second quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock valued at $44,000 after acquiring an additional 429 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on TROW shares. Evercore ISI raised their target price on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Citigroup lifted their price objective on shares of T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Finally, BMO Capital Markets began coverage on T. Rowe Price Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $109.38.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred 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 directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Down 1.9%

NASDAQ:TROW opened at $101.72 on Friday. The company has a market capitalization of $22.20 billion, a P/E ratio of 11.37, a PEG ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a fifty day simple moving average of $104.02 and a 200-day simple moving average of $101.23.

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 the consensus estimate of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.57 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a 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 55.34%.

About T. Rowe Price Group

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.