ProShare Advisors LLC Acquires 337,112 Shares of T. Rowe Price Group, Inc. $TROW

ProShare Advisors LLC raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,887,935 shares of the asset manager’s stock after acquiring an additional 337,112 shares during the quarter. ProShare Advisors LLC’s holdings in T. Rowe Price Group were worth $182,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after acquiring an additional 519,075 shares in the last quarter. ARGA Investment Management LP boosted its holdings in T. Rowe Price Group by 3,807.3% in the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after buying an additional 464,949 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of T. Rowe Price Group in the second quarter worth about $37,722,000. Finally, AE Wealth Management LLC boosted its stake in T. Rowe Price Group by 11,027.9% in the 2nd quarter. AE Wealth Management LLC now owns 245,037 shares of the asset manager’s stock worth $23,646,000 after purchasing an additional 242,835 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TROW shares. Morgan Stanley lifted their target price on T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Monday, October 27th. Jefferies Financial Group upped their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. TD Cowen raised their target price on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research note on Monday, November 3rd. Finally, Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $109.31.

T. Rowe Price Group Trading Up 0.5%

Shares of NASDAQ:TROW opened at $102.66 on Monday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company has a market capitalization of $22.40 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 5.61 and a beta of 1.51. The firm’s 50-day moving average is $104.45 and its 200 day moving average is $100.89.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business earned $2.57 EPS. T. Rowe Price Group’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

T. Rowe Price Group 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.