National Bank of Canada FI Has $20.20 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

National Bank of Canada FI raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,453 shares of the asset manager’s stock after acquiring an additional 22,705 shares during the period. National Bank of Canada FI owned approximately 0.08% of T. Rowe Price Group worth $20,201,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TROW. Insight Folios Inc boosted its holdings in shares of T. Rowe Price Group by 3.6% in the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 90 shares in the last quarter. Keystone Financial Services boosted its stake in T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after buying an additional 92 shares in the last quarter. Nvwm LLC boosted its stake in T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after buying an additional 95 shares in the last quarter. Strategy Asset Managers LLC raised its stake in T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after acquiring an additional 95 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after acquiring an additional 99 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 0.2 %

TROW opened at $123.59 on Tuesday. The stock has a market cap of $27.46 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.75 and a beta of 1.42. T. Rowe Price Group, Inc. has a twelve month low of $97.50 and a twelve month high of $125.81. The company has a fifty day moving average of $115.55 and a 200-day moving average of $113.11.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business earned $2.17 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TROW shares. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company increased their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. TD Cowen reduced their price objective on 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. Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $116.00.

T. Rowe Price Group Company Profile

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.