Grantham Mayo Van Otterloo & Co. LLC Has $14.73 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 42.8% during the second quarter, HoldingsChannel reports. The firm owned 152,679 shares of the asset manager’s stock after selling 114,270 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in T. Rowe Price Group were worth $14,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. AE Wealth Management LLC bought a new position in shares of T. Rowe Price Group in the first quarter worth about $202,000. Avantax Advisory Services Inc. boosted its position in T. Rowe Price Group by 20.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,142 shares of the asset manager’s stock valued at $564,000 after buying an additional 1,059 shares in the last quarter. TD Asset Management Inc boosted its position in T. Rowe Price Group by 0.3% in the first quarter. TD Asset Management Inc now owns 85,806 shares of the asset manager’s stock valued at $7,883,000 after buying an additional 254 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of T. Rowe Price Group by 8.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,739 shares of the asset manager’s stock worth $4,845,000 after buying an additional 4,184 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in shares of T. Rowe Price Group by 16.1% during the first quarter. LPL Financial LLC now owns 494,839 shares of the asset manager’s stock worth $45,461,000 after buying an additional 68,551 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TROW shares. TD Cowen raised their price objective on T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a report on Monday, November 3rd. Evercore ISI lifted their price target on T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Jefferies Financial Group boosted their price target 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. Bank of America upped their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Finally, Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $109.00.

T. Rowe Price Group Trading Up 0.3%

NASDAQ TROW opened at $102.44 on Friday. The firm has a market capitalization of $22.36 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51. The business’s 50-day moving average price is $102.83 and its two-hundred day moving average price is $101.82. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.88 billion. During the same period last year, the company earned $2.57 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 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 Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s payout ratio is 55.34%.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction 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 completion of the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

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.