Aberdeen Group plc Acquires 19,545 Shares of T. Rowe Price Group, Inc. $TROW

Aberdeen Group plc lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 201,893 shares of the asset manager’s stock after buying an additional 19,545 shares during the period. Aberdeen Group plc’s holdings in T. Rowe Price Group were worth $19,356,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $27,000. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $39,000. Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $41,000. Finally, Cromwell Holdings LLC increased its holdings in shares of T. Rowe Price Group by 3,483.3% in the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock worth $41,000 after buying an additional 418 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TROW. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Barclays reiterated an “underweight” rating and set a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Bank of America upped their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. TD Cowen upped their price target on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average price target of $106.38.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $105.36 on Tuesday. The stock has a market cap of $23.15 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 6.51 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The firm has a 50-day moving average of $105.81 and a two-hundred day moving average of $98.58.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 EPS. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s payout ratio is 56.76%.

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.