Banco Santander S.A. Acquires 2,295 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Banco Santander S.A. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,930 shares of the asset manager’s stock after purchasing an additional 2,295 shares during the period. Banco Santander S.A.’s holdings in T. Rowe Price Group were worth $10,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its position in shares of T. Rowe Price Group by 44.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,040 shares of the asset manager’s stock worth $1,956,000 after purchasing an additional 4,938 shares during the last quarter. Natixis bought a new stake in T. Rowe Price Group during the first quarter worth $952,000. CreativeOne Wealth LLC lifted its stake in T. Rowe Price Group by 97.6% in the first quarter. CreativeOne Wealth LLC now owns 8,229 shares of the asset manager’s stock valued at $1,003,000 after acquiring an additional 4,065 shares during the last quarter. Toronto Dominion Bank grew its position in shares of T. Rowe Price Group by 83.4% in the 1st quarter. Toronto Dominion Bank now owns 129,674 shares of the asset manager’s stock valued at $15,810,000 after acquiring an additional 58,987 shares during the period. Finally, BOKF NA increased its stake in shares of T. Rowe Price Group by 620.3% during the 1st quarter. BOKF NA now owns 107,560 shares of the asset manager’s stock worth $12,939,000 after purchasing an additional 92,628 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Evercore ISI boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley raised their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.55.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $118.38 on Friday. The company has a market capitalization of $26.30 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.67 and a beta of 1.41. The business’s 50 day simple moving average is $111.89 and its 200 day simple moving average is $112.37. T. Rowe Price Group, Inc. has a 1 year low of $96.48 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm posted $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.19%. T. Rowe Price Group’s dividend payout ratio is 54.27%.

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.