PGGM Investments Increases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

PGGM Investments increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,080.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,537 shares of the asset manager’s stock after buying an additional 23,373 shares during the period. PGGM Investments’ holdings in T. Rowe Price Group were worth $3,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC lifted its holdings in T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after purchasing an additional 109,653 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in T. Rowe Price Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock valued at $145,685,000 after purchasing an additional 236,697 shares in the last quarter. First Trust Advisors LP lifted its holdings in T. Rowe Price Group by 1.3% in the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after purchasing an additional 15,504 shares in the last quarter. Confluence Investment Management LLC purchased a new position in T. Rowe Price Group in the 1st quarter valued at $130,386,000. Finally, UBS Group AG lifted its holdings in T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after purchasing an additional 805,106 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $5.56 during midday trading on Friday, reaching $106.47. 1,987,838 shares of the company’s stock were exchanged, compared to its average volume of 1,122,725. The firm’s 50 day simple moving average is $115.89 and its two-hundred day simple moving average is $114.14. The stock has a market cap of $23.70 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.74 and a beta of 1.42. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.02 earnings per share. Equities research analysts predict that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.66%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. UBS Group raised their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. TD Cowen cut their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Evercore ISI cut their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut their target price on T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Finally, Morgan Stanley raised their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $114.56.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

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.