Allianz Asset Management GmbH Boosts Stake in T. Rowe Price Group, Inc. $TROW

Allianz Asset Management GmbH increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 767,672 shares of the asset manager’s stock after acquiring an additional 152,318 shares during the period. Allianz Asset Management GmbH owned about 0.35% of T. Rowe Price Group worth $78,794,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. increased its position in shares of T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Root Financial Partners LLC purchased a new stake in T. Rowe Price Group in the third quarter worth approximately $30,000. Salomon & Ludwin LLC grew its position in T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its position in 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 valued at $31,000 after acquiring an additional 174 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of T. Rowe Price Group during the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 3.7%

T. Rowe Price Group stock opened at $102.66 on Wednesday. The firm has a market cap of $22.40 billion, a P/E ratio of 11.18, a P/E/G ratio of 2.58 and a beta of 1.53. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $118.22. The firm has a 50-day moving average of $104.83 and a 200-day moving average of $104.67.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating for the company in a research note on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft cut their price target on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday, December 17th. Evercore ISI lifted their price objective on T. Rowe Price Group from $115.00 to $116.00 in a report on Monday, January 12th. Barclays lowered their target price on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a research note on Thursday, January 15th. Finally, Jefferies Financial Group raised their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $106.92.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Company Profile

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.