T. Rowe Price Group, Inc. $TROW Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,149.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 183,267 shares of the asset manager’s stock after acquiring an additional 168,594 shares during the quarter. Vinva Investment Management Ltd’s holdings in T. Rowe Price Group were worth $18,972,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Woodline Partners LP grew its position in T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after purchasing an additional 5,467 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the last quarter. Atria Investments Inc raised its holdings in shares of T. Rowe Price Group by 2.9% during the second quarter. Atria Investments Inc now owns 7,269 shares of the asset manager’s stock valued at $701,000 after buying an additional 207 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of T. Rowe Price Group during the second quarter worth approximately $219,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of T. Rowe Price Group during the second quarter worth approximately $35,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $90.40 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.22. The firm has a market capitalization of $19.71 billion, a PE ratio of 9.77, a P/E/G ratio of 4.67 and a beta of 1.54. The company’s 50 day simple moving average is $100.33 and its 200 day simple moving average is $102.79.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $2.12 earnings per share. Sell-side 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. Investors of record on Monday, March 16th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. T. Rowe Price Group’s dividend payout ratio is presently 54.92%.

Analysts Set New Price Targets

TROW has been the topic of several analyst reports. Evercore lowered their target price on T. Rowe Price Group from $106.00 to $99.00 in a research report on Friday. Bank of America boosted their price target on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft decreased their price target on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. TD Cowen lowered their price target on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Finally, Morgan Stanley cut their price objective 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. Twelve investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $101.69.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the sale, the vice president directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.