T. Rowe Price Group, Inc. $TROW Shares Acquired by ARGA Investment Management LP

ARGA Investment Management LP boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 568,567 shares of the asset manager’s stock after buying an additional 91,406 shares during the quarter. T. Rowe Price Group makes up approximately 1.5% of ARGA Investment Management LP’s portfolio, making the stock its 16th largest holding. ARGA Investment Management LP owned approximately 0.26% of T. Rowe Price Group worth $58,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. increased 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 last quarter. Root Financial Partners LLC acquired a new position in T. Rowe Price Group during the 3rd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares in the last quarter. Salomon & Ludwin LLC boosted its position in T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after buying an additional 145 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in T. Rowe Price Group in the second quarter valued at $35,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the sale, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TROW. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating for the company in a report on Tuesday. Barclays lowered their price target on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating on the stock in a report on Thursday, January 15th. Jefferies Financial Group boosted their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods cut their price target on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a report on Tuesday, December 16th. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $107.31.

T. Rowe Price Group Price Performance

Shares of TROW opened at $105.63 on Friday. The stock has a market cap of $23.05 billion, a PE ratio of 11.51, a P/E/G ratio of 2.59 and a beta of 1.52. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.32. The stock’s 50-day moving average is $103.93 and its two-hundred day moving average is $104.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm earned $2.57 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.34%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.