T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Verity Asset Management Inc.

Verity Asset Management Inc. raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 44.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,522 shares of the asset manager’s stock after acquiring an additional 1,397 shares during the period. Verity Asset Management Inc.’s holdings in T. Rowe Price Group were worth $511,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of T. Rowe Price Group by 18.3% during the 1st quarter. BlackRock Inc. now owns 21,766,218 shares of the asset manager’s stock valued at $2,457,406,000 after purchasing an additional 3,365,883 shares in the last quarter. Norges Bank purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $208,014,000. Victory Capital Management Inc. lifted its position in shares of T. Rowe Price Group by 226.9% during the 4th quarter. Victory Capital Management Inc. now owns 2,714,587 shares of the asset manager’s stock valued at $296,053,000 after buying an additional 1,884,127 shares in the last quarter. Vanguard Group Inc. grew its stake in T. Rowe Price Group by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after acquiring an additional 625,340 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 10.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,799,427 shares of the asset manager’s stock worth $523,425,000 after acquiring an additional 453,033 shares in the last quarter. 75.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $111.82, for a total value of $1,338,373.58. Following the completion of the transaction, the vice president now owns 129,436 shares of the company’s stock, valued at $14,473,533.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on TROW shares. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $108.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. StockNews.com assumed coverage on T. Rowe Price Group in a research report on Thursday, August 17th. They set a “hold” rating for the company. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $117.00 to $123.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. Citigroup lifted their target price on shares of T. Rowe Price Group from $98.00 to $100.00 and gave the stock a “sell” rating in a research note on Friday, July 14th. Finally, UBS Group raised their price target on shares of T. Rowe Price Group from $83.00 to $90.00 and gave the stock a “sell” rating in a research note on Monday, July 31st. Six analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $96.73.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $2.35 during trading hours on Wednesday, hitting $107.93. The company’s stock had a trading volume of 577,302 shares, compared to its average volume of 1,485,851. The firm has a fifty day moving average of $114.12 and a 200-day moving average of $111.24. The stock has a market cap of $24.21 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 3.30 and a beta of 1.32. T. Rowe Price Group, Inc. has a twelve month low of $93.53 and a twelve month high of $134.64.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 28th. The asset manager reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.29. T. Rowe Price Group had a net margin of 24.73% and a return on equity of 18.30%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the business earned $1.79 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 7.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, September 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 72.73%.

T. Rowe Price Group Company Profile

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.