T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Guinness Asset Management LTD

Guinness Asset Management LTD raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 65.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,770 shares of the asset manager’s stock after buying an additional 1,497 shares during the period. Guinness Asset Management LTD’s holdings in T. Rowe Price Group were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TROW. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Geode Capital Management LLC increased its position in shares of T. Rowe Price Group by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares during the period. Provident Trust Co. raised its stake in shares of T. Rowe Price Group by 0.3% in the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after buying an additional 7,905 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after buying an additional 47,998 shares during the period. Finally, ProShare Advisors LLC boosted its stake in T. Rowe Price Group by 2.5% during the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after buying an additional 40,490 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 1.0 %

Shares of T. Rowe Price Group stock opened at $113.21 on Monday. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81. The company has a market cap of $25.15 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.43. The stock has a 50-day moving average price of $117.71 and a 200 day moving average price of $112.84.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Analyst Ratings Changes

TROW has been the topic of several research reports. TD Cowen dropped their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Barclays cut their target price on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research note on Friday. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley increased their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $115.82.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

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.