T. Rowe Price Group, Inc. $TROW Stock Position Raised by ARGA Investment Management LP

ARGA Investment Management LP raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 568,567 shares of the asset manager’s stock after acquiring an additional 91,406 shares during the quarter. T. Rowe Price Group makes up 1.5% of ARGA Investment Management LP’s investment portfolio, making the stock its 16th largest holding. ARGA Investment Management LP’s holdings in T. Rowe Price Group were worth $58,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TFG Advisers LLC increased its holdings in T. Rowe Price Group by 3.6% in the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after buying an additional 97 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares during the period. Bill Few Associates Inc. lifted its position in shares of T. Rowe Price Group by 4.3% during the 2nd quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after purchasing an additional 107 shares during the last quarter. Dakota Wealth Management lifted its holdings in shares of T. Rowe Price Group by 4.7% during the second quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock worth $245,000 after buying an additional 114 shares during the last quarter. Finally, Beacon Investment Advisors LLC raised its stake in T. Rowe Price Group by 1.2% during the 2nd quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 120 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on TROW shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft decreased their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. BMO Capital Markets upped their price target on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a research report on Tuesday, January 13th. TD Cowen dropped their price objective on T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating for the company in a research note on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 16th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $107.31.

Insider Activity

In other news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Down 1.4%

Shares of TROW stock opened at $105.63 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.32. The firm’s 50 day moving average is $103.93 and its 200-day moving average is $104.51. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 2.59 and a beta of 1.52.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business posted $2.57 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were given a dividend of $1.27 per share. The ex-dividend date was Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group’s payout ratio is presently 55.34%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.