Baird Financial Group Inc. Purchases 6,741 Shares of T. Rowe Price Group Inc (TROW)

Baird Financial Group Inc. increased its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 26.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,861 shares of the asset manager’s stock after purchasing an additional 6,741 shares during the period. Baird Financial Group Inc.’s holdings in T. Rowe Price Group were worth $3,500,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TROW. Janus Henderson Group PLC grew its stake in T. Rowe Price Group by 34.7% in the second quarter. Janus Henderson Group PLC now owns 1,797,932 shares of the asset manager’s stock worth $208,722,000 after purchasing an additional 463,382 shares during the period. AGF Investments Inc. grew its stake in T. Rowe Price Group by 131.4% in the second quarter. AGF Investments Inc. now owns 775,010 shares of the asset manager’s stock worth $89,971,000 after purchasing an additional 440,157 shares during the period. BlackRock Inc. grew its stake in T. Rowe Price Group by 2.2% in the second quarter. BlackRock Inc. now owns 17,346,810 shares of the asset manager’s stock worth $2,013,792,000 after purchasing an additional 368,297 shares during the period. Bank of America Corp DE grew its stake in T. Rowe Price Group by 10.2% in the second quarter. Bank of America Corp DE now owns 2,545,305 shares of the asset manager’s stock worth $295,485,000 after purchasing an additional 236,487 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd grew its stake in shares of T. Rowe Price Group by 9.6% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,297,776 shares of the asset manager’s stock worth $250,871,000 after acquiring an additional 201,553 shares during the last quarter. 71.57% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on TROW shares. Deutsche Bank cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. UBS Group cut their target price on T. Rowe Price Group from $127.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, October 8th. Morgan Stanley increased their target price on T. Rowe Price Group from $116.00 to $118.00 and gave the stock a “hold” rating in a research note on Tuesday, October 9th. Citigroup cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Finally, Credit Suisse Group cut their target price on T. Rowe Price Group from $161.00 to $123.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $108.00.

NASDAQ TROW opened at $93.28 on Friday. T. Rowe Price Group Inc has a 12 month low of $91.48 and a 12 month high of $127.43. The firm has a market capitalization of $22.93 billion, a PE ratio of 17.18, a P/E/G ratio of 1.09 and a beta of 1.21.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, October 25th. The asset manager reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.37. T. Rowe Price Group had a return on equity of 29.52% and a net margin of 33.98%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm posted $1.56 earnings per share. As a group, equities research analysts anticipate that T. Rowe Price Group Inc will post 7.38 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. T. Rowe Price Group’s dividend payout ratio is currently 51.57%.

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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.

Further Reading: Leveraged Buyout (LBO) Explained

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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