Fidelity National Financial Inc. Invests $16.83 Million in T. Rowe Price Group, Inc. $TROW

Fidelity National Financial Inc. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, Holdings Channel reports. The firm acquired 148,000 shares of the asset manager’s stock, valued at approximately $16,826,000. T. Rowe Price Group comprises 0.5% of Fidelity National Financial Inc.’s investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of TROW. BlackRock Inc. acquired a new position in T. Rowe Price Group during the 2nd quarter valued at $2,728,119,000. State Street Corp grew its position in T. Rowe Price Group by 0.3% in the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock worth $1,449,680,000 after purchasing an additional 45,530 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after purchasing an additional 143,109 shares during the period. Finally, First Trust Advisors LP raised its position in shares of T. Rowe Price Group by 12.6% during the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock valued at $332,993,000 after buying an additional 413,317 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. TD Cowen raised their price objective on T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. lowered their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $105.67.

T. Rowe Price Group Stock Down 0.1%

NASDAQ TROW opened at $110.32 on Wednesday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The stock has a market cap of $23.53 billion, a P/E ratio of 11.07, a PEG ratio of 4.30 and a beta of 1.47. The company’s 50-day simple moving average is $113.71 and its 200 day simple moving average is $102.71.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the business earned $2.24 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts anticipate that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s payout ratio is currently 52.16%.

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.