T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Boosted by Macquarie Group Ltd.

Macquarie Group Ltd. lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,277 shares of the asset manager’s stock after acquiring an additional 870 shares during the period. Macquarie Group Ltd.’s holdings in T. Rowe Price Group were worth $3,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of T. Rowe Price Group by 18.3% during the 1st quarter. BlackRock Inc. now owns 21,766,218 shares of the asset manager’s stock valued at $2,457,406,000 after acquiring an additional 3,365,883 shares in the last quarter. Vanguard Group Inc. grew its position in shares of T. Rowe Price Group by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after buying an additional 625,340 shares during the last quarter. Geode Capital Management LLC boosted its position in T. Rowe Price Group by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 5,438,480 shares of the asset manager’s stock valued at $592,208,000 after purchasing an additional 32,545 shares during the period. Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 10.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,799,427 shares of the asset manager’s stock valued at $523,425,000 after purchasing an additional 453,033 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in T. Rowe Price Group by 2.4% during the 4th quarter. American Century Companies Inc. now owns 3,477,745 shares of the asset manager’s stock valued at $379,283,000 after purchasing an additional 82,290 shares during the period. 75.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $111.82, for a total transaction of $1,338,373.58. Following the completion of the sale, the vice president now directly owns 129,436 shares in the company, valued at approximately $14,473,533.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.10% of the company’s stock.

T. Rowe Price Group Trading Down 0.4 %

NASDAQ TROW opened at $109.63 on Monday. The stock’s 50-day moving average price is $114.05 and its two-hundred day moving average price is $111.20. The company has a market cap of $24.59 billion, a PE ratio of 16.34, a PEG ratio of 3.30 and a beta of 1.32. T. Rowe Price Group, Inc. has a 1 year low of $93.53 and a 1 year high of $134.64.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 28th. The asset manager reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.29. T. Rowe Price Group had a net margin of 24.73% and a return on equity of 18.30%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the company posted $1.79 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group, Inc. will post 7.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 4.45%. T. Rowe Price Group’s payout ratio is presently 72.73%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of recent analyst reports. Citigroup lifted their price target on T. Rowe Price Group from $98.00 to $100.00 and gave the company a “sell” rating in a report on Friday, July 14th. UBS Group boosted their price target on shares of T. Rowe Price Group from $83.00 to $90.00 and gave the stock a “sell” rating in a research report on Monday, July 31st. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $117.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Monday, July 31st. Morgan Stanley lifted their price target on T. Rowe Price Group from $108.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. Finally, StockNews.com initiated coverage on T. Rowe Price Group in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.73.

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.