Grantham Mayo Van Otterloo & Co. LLC Raises Stock Holdings in T. Rowe Price Group, Inc. $TROW

Grantham Mayo Van Otterloo & Co. LLC raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 195,147 shares of the asset manager’s stock after purchasing an additional 42,468 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.09% of T. Rowe Price Group worth $20,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of T. Rowe Price Group by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock worth $2,549,213,000 after buying an additional 130,325 shares during the period. State Street Corp grew its stake in T. Rowe Price Group by 1.5% in the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock valued at $1,400,241,000 after acquiring an additional 211,647 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock worth $757,200,000 after acquiring an additional 140,385 shares in the last quarter. Geode Capital Management LLC increased its holdings in T. Rowe Price Group by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock worth $578,059,000 after acquiring an additional 197,024 shares in the last quarter. Finally, Invesco Ltd. raised its position in T. Rowe Price Group by 0.3% during the second quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock worth $332,415,000 after acquiring an additional 11,036 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a report on Thursday, February 5th. Evercore reduced their price target on shares of T. Rowe Price Group from $106.00 to $99.00 in a research report on Friday. Morgan Stanley decreased their price target on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 10th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, BMO Capital Markets cut their price objective on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Twelve research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $101.69.

T. Rowe Price Group Stock Down 1.8%

Shares of TROW opened at $90.40 on Monday. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $118.22. The stock has a fifty day simple moving average of $100.33 and a two-hundred day simple moving average of $102.77. The company has a market capitalization of $19.71 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 4.67 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the firm posted $2.12 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. T. Rowe Price Group’s payout ratio is presently 56.22%.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,260 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

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.