T. Rowe Price Group, Inc. $TROW Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,149.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 183,267 shares of the asset manager’s stock after purchasing an additional 168,594 shares during the quarter. Vinva Investment Management Ltd owned approximately 0.08% of T. Rowe Price Group worth $18,972,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its position in shares of 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 buying an additional 100 shares in the last quarter. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at $30,000. Vermillion & White Wealth Management Group LLC boosted its stake in T. Rowe Price Group by 120.0% during the 2nd 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. Salomon & Ludwin LLC boosted its stake in T. Rowe Price Group by 84.3% during the 3rd 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. Finally, Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group during the 2nd quarter worth $35,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TROW. Bank of America upped their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. Morgan Stanley decreased their price target 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. Keefe, Bruyette & Woods lowered their price objective on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a report on Thursday, February 5th. TD Cowen cut their price objective on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a report on Thursday, February 5th. Twelve analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $101.69.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $90.40 on Friday. The firm’s 50-day moving average is $100.33 and its 200-day moving average is $102.79. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.22. The company has a market cap of $19.71 billion, a P/E ratio of 9.77, a PEG ratio of 4.67 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio is currently 54.92%.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the 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 sale, the vice president directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

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.