Legal & General Group Plc Has $172.97 Million Position in T. Rowe Price Group Inc (NASDAQ:TROW)

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Legal & General Group Plc grew its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.3% in the first quarter, Holdings Channel reports. The institutional investor owned 1,771,020 shares of the asset manager’s stock after purchasing an additional 39,029 shares during the period. Legal & General Group Plc’s holdings in T. Rowe Price Group were worth $172,971,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Citizens Financial Group Inc RI raised its position in T. Rowe Price Group by 70.4% in the fourth quarter. Citizens Financial Group Inc RI now owns 230 shares of the asset manager’s stock worth $28,000 after purchasing an additional 95 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in T. Rowe Price Group in the first quarter worth about $28,000. Shine Investment Advisory Services Inc. raised its position in T. Rowe Price Group by 248.4% in the first quarter. Shine Investment Advisory Services Inc. now owns 324 shares of the asset manager’s stock worth $32,000 after purchasing an additional 231 shares in the last quarter. Penserra Capital Management LLC raised its position in T. Rowe Price Group by 52.7% in the fourth quarter. Penserra Capital Management LLC now owns 252 shares of the asset manager’s stock worth $33,000 after purchasing an additional 87 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its position in T. Rowe Price Group by 36.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock worth $38,000 after purchasing an additional 106 shares in the last quarter. 70.76% of the stock is owned by institutional investors and hedge funds.

In related news, Director Mary K. Bush sold 1,851 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $115.34, for a total value of $213,494.34. Following the transaction, the director now directly owns 15,955 shares in the company, valued at $1,840,249.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP W. Sharps Robert sold 3,500 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $117.50, for a total transaction of $411,250.00. Following the completion of the transaction, the vice president now owns 476,176 shares in the company, valued at $55,950,680. The disclosure for this sale can be found here. Insiders have sold 8,851 shares of company stock worth $1,047,719 over the last three months. 1.00% of the stock is owned by insiders.

Several research analysts recently issued reports on the stock. BidaskClub raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Bank of America dropped their price target on shares of T. Rowe Price Group from $118.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research report on Wednesday, March 11th. Finally, Deutsche Bank upped their price objective on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. T. Rowe Price Group has an average rating of “Hold” and an average price target of $108.67.

Shares of TROW traded down $6.16 during mid-day trading on Thursday, hitting $121.69. 59,615 shares of the company traded hands, compared to its average volume of 1,609,550. T. Rowe Price Group Inc has a one year low of $82.51 and a one year high of $139.82. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $114.67 and a 200 day moving average of $118.77. The stock has a market capitalization of $28.46 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.02 and a beta of 1.15.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, April 28th. The asset manager reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.08. T. Rowe Price Group had a net margin of 33.86% and a return on equity of 29.22%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm earned $1.87 earnings per share. T. Rowe Price Group’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that T. Rowe Price Group Inc will post 6.84 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, June 12th. This represents a $3.60 annualized dividend and a dividend yield of 2.96%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 44.61%.

T. Rowe Price Group Company 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.

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Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc (NASDAQ:TROW).

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

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