The Manufacturers Life Insurance Company Has $25.32 Million Stock Position in T. Rowe Price Group, Inc. $TROW

The Manufacturers Life Insurance Company increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 66.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,729 shares of the asset manager’s stock after acquiring an additional 88,717 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of T. Rowe Price Group worth $25,322,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Wealthcare Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 1.0% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock worth $1,087,000 after purchasing an additional 93 shares during the period. Kesler Norman & Wride LLC lifted its stake in shares of T. Rowe Price Group by 0.6% in the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock valued at $1,809,000 after buying an additional 96 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of T. Rowe Price Group by 9.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock valued at $131,000 after buying an additional 99 shares during the period. Oregon Public Employees Retirement Fund grew its position in T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after buying an additional 100 shares in the last quarter. Finally, Concorde Asset Management LLC grew its position in T. Rowe Price Group by 3.9% during the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock worth $246,000 after buying an additional 102 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TROW has been the topic of several research reports. Barclays lowered their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd. Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. BMO Capital Markets boosted their price objective on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a research note on Wednesday, July 29th. Finally, Evercore set a $118.00 target price on T. Rowe Price Group in a research report on Monday, August 10th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $106.15.

Insider Activity

In related news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This trade represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Trading Down 1.2%

NASDAQ TROW opened at $106.29 on Friday. The stock’s 50 day moving average is $113.83 and its two-hundred day moving average is $104.36. The company has a market capitalization of $22.67 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 3.52 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.24 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.