Bank of Montreal Can Has $73.41 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Bank of Montreal Can increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 715,232 shares of the asset manager’s stock after buying an additional 31,554 shares during the quarter. Bank of Montreal Can owned about 0.33% of T. Rowe Price Group worth $73,411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its stake in T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Root Financial Partners LLC acquired a new position in shares of T. Rowe Price Group during the third quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of T. Rowe Price Group by 120.0% in the 2nd 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 lifted its holdings in shares of T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at $35,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $89.33 on Thursday. The company has a market capitalization of $19.48 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 3.73 and a beta of 1.54. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $118.22. The company has a 50-day simple moving average of $99.50 and a two-hundred day simple moving average of $102.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.12 EPS. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a $1.30 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. T. Rowe Price Group’s dividend payout ratio is currently 56.22%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays set a $94.00 price objective on shares of T. Rowe Price Group in a report on Thursday, February 5th. Morgan Stanley decreased their target price on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 10th. Keefe, Bruyette & Woods dropped their price target on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a research report on Thursday, February 5th. BMO Capital Markets cut their price target on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $101.69.

T. Rowe Price Group 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.