Mackenzie Financial Corp Has $3.39 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mackenzie Financial Corp increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 6.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,812 shares of the asset manager’s stock after purchasing an additional 1,841 shares during the period. Mackenzie Financial Corp’s holdings in T. Rowe Price Group were worth $3,387,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in T. Rowe Price Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after purchasing an additional 625,340 shares during the period. BlackRock Inc. boosted its holdings in T. Rowe Price Group by 4.8% in the first quarter. BlackRock Inc. now owns 19,713,986 shares of the asset manager’s stock worth $2,980,558,000 after acquiring an additional 904,707 shares in the last quarter. State Street Corp boosted its holdings in T. Rowe Price Group by 2.0% in the first quarter. State Street Corp now owns 12,340,755 shares of the asset manager’s stock worth $1,865,799,000 after acquiring an additional 237,127 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in T. Rowe Price Group by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 9,442,430 shares of the asset manager’s stock worth $1,427,600,000 after acquiring an additional 900,933 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,729,424 shares of the asset manager’s stock worth $563,852,000 after acquiring an additional 273,205 shares in the last quarter. Institutional investors and hedge funds own 74.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group cut their price target on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a report on Friday, July 29th. BMO Capital Markets cut their price target on T. Rowe Price Group from $135.00 to $115.00 in a report on Monday, August 1st. Credit Suisse Group assumed coverage on T. Rowe Price Group in a report on Wednesday, October 19th. They issued an “underperform” rating and a $70.00 price target on the stock. Morgan Stanley cut their price target on T. Rowe Price Group from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, October 31st. Finally, StockNews.com assumed coverage on T. Rowe Price Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus price target of $114.30.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $124.15, for a total value of $1,241,500.00. Following the completion of the sale, the insider now directly owns 41,000 shares of the company’s stock, valued at $5,090,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 0.6 %

Shares of T. Rowe Price Group stock opened at $122.07 on Monday. The business’s fifty day simple moving average is $109.84 and its 200 day simple moving average is $116.87. The firm has a market capitalization of $27.28 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. T. Rowe Price Group, Inc. has a 12 month low of $93.53 and a 12 month high of $212.90.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The asset manager reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.53 billion. T. Rowe Price Group had a return on equity of 23.88% and a net margin of 29.35%. During the same period last year, the company posted $3.27 earnings per share. T. Rowe Price Group’s quarterly revenue was down 18.7% compared to the same quarter last year. Analysts predict that T. Rowe Price Group, Inc. will post 7.9 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Friday, December 16th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Thursday, December 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.11%.

T. Rowe Price Group Profile

(Get Rating)

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

See Also

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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