T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by TD Asset Management Inc (2024)

TD Asset Management Inc boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 6.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 85,412 shares of the asset manager’s stock after purchasing an additional 5,068 shares during the period. TD Asset Management Inc’s holdings in T. Rowe Price Group were worth $9,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its position in T. Rowe Price Group by 66.8% during the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after purchasing an additional 306,524 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of T. Rowe Price Group by 15.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock worth $37,141,000 after acquiring an additional 47,043 shares in the last quarter. Sepio Capital LP boosted its stake in shares of T. Rowe Price Group by 4.5% during the 4th quarter. Sepio Capital LP now owns 8,166 shares of the asset manager’s stock worth $879,000 after acquiring an additional 349 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of T. Rowe Price Group by 1.4% during the 4th quarter. Advisory Services Network LLC now owns 20,021 shares of the asset manager’s stock worth $2,156,000 after acquiring an additional 285 shares in the last quarter. Finally, Weil Company Inc. purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $207,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $116.57 on Wednesday. The company’s 50 day simple moving average is $114.91 and its two-hundred day simple moving average is $110.73. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The firm has a market capitalization of $26.03 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 2.00 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company posted $1.69 EPS. The business’s revenue was up 13.8% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group increased their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Morgan Stanley raised their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $112.10.

Get Our Latest Stock Report on T. Rowe Price Group

About T. Rowe Price Group

(Free Report)

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.