Advisors Asset Management Inc. Purchases 4,419 Shares of T. Rowe Price Group, Inc. $TROW

Advisors Asset Management Inc. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,753 shares of the asset manager’s stock after buying an additional 4,419 shares during the quarter. Advisors Asset Management Inc.’s holdings in T. Rowe Price Group were worth $7,986,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TROW. TFG Advisers LLC increased its holdings in T. Rowe Price Group by 3.6% in the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after acquiring an additional 97 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the period. Bill Few Associates Inc. increased its stake in shares of T. Rowe Price Group by 4.3% in the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after purchasing an additional 107 shares in the last quarter. Cooper Financial Group increased its stake in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after purchasing an additional 110 shares in the last quarter. Finally, Associated Banc Corp raised its position in shares of T. Rowe Price Group by 0.5% in the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $101.13 on Wednesday. The firm has a fifty day moving average of $103.03 and a 200 day moving average of $101.78. The firm has a market capitalization of $22.07 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $2.57 earnings per share. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s payout ratio is currently 55.34%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TROW shares. Bank of America lifted their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. BMO Capital Markets began coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective on the stock. Citigroup increased their price objective on T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Finally, Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $109.00.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the 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 sale, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

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.