Achmea Investment Management B.V. Purchases New Shares in T. Rowe Price Group, Inc. $TROW

Achmea Investment Management B.V. purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 246,301 shares of the asset manager’s stock, valued at approximately $25,280,000. Achmea Investment Management B.V. owned about 0.11% of T. Rowe Price Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. boosted its stake in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Essex Bank increased its position in shares of T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock valued at $299,000 after acquiring an additional 100 shares during the last quarter. PFG Investments LLC increased its position in shares of T. Rowe Price Group by 4.8% during the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock valued at $231,000 after acquiring an additional 102 shares during the last quarter. Fiduciary Trust Co lifted its holdings in T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after acquiring an additional 111 shares during the period. Finally, Gotham Asset Management LLC boosted its position in T. Rowe Price Group by 0.3% in the third quarter. Gotham Asset Management LLC now owns 36,900 shares of the asset manager’s stock worth $3,787,000 after purchasing an additional 119 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Up 1.2%

TROW opened at $88.39 on Wednesday. The company has a market cap of $19.28 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 3.66 and a beta of 1.54. The company’s 50 day moving average is $98.10 and its 200 day moving average is $101.83. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 dividend on an annualized basis and a yield of 5.9%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s payout ratio is 56.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TROW shares. Morgan Stanley reduced their price objective on T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 10th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Bank of America boosted their price target on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Keefe, Bruyette & Woods reduced their price target on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a research report on Thursday, February 5th. Finally, TD Cowen decreased their price objective on shares of T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Twelve equities research 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, the stock currently has an average rating of “Reduce” and an average target price of $101.69.

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.