AIA Group Ltd Has $409,000 Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Posted by Defense World Staff on Apr 16th, 2023

AIA Group Ltd boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 48.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,752 shares of the asset manager’s stock after buying an additional 1,223 shares during the period. AIA Group Ltd’s holdings in T. Rowe Price Group were worth $409,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of T. Rowe Price Group by 18.6% in the 3rd quarter. Vanguard Group Inc. now owns 24,169,568 shares of the asset manager’s stock valued at $2,538,046,000 after purchasing an additional 3,786,970 shares in the last quarter. State Street Corp boosted its stake in shares of T. Rowe Price Group by 11.4% in the 3rd quarter. State Street Corp now owns 14,270,631 shares of the asset manager’s stock valued at $1,498,559,000 after purchasing an additional 1,458,948 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,729,424 shares of the asset manager’s stock valued at $563,852,000 after purchasing an additional 273,205 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of T. Rowe Price Group by 12.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,285,159 shares of the asset manager’s stock valued at $344,972,000 after purchasing an additional 355,649 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of T. Rowe Price Group by 1.4% in the 3rd quarter. Brown Advisory Inc. now owns 1,693,232 shares of the asset manager’s stock valued at $177,806,000 after purchasing an additional 22,901 shares in the last quarter. 76.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TROW. BMO Capital Markets reduced their price target on shares of T. Rowe Price Group from $105.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 27th. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $120.00 to $112.00 and set an “equal weight” rating for the company in a report on Friday, January 27th. Bank of America reduced their target price on shares of T. Rowe Price Group from $78.00 to $72.00 and set an “underperform” rating on the stock in a report on Wednesday, April 5th. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $96.00 to $95.00 and set an “underweight” rating on the stock in a report on Friday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of T. Rowe Price Group from $121.00 to $113.00 and set a “hold” rating on the stock in a report on Friday, January 27th. Five equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $91.90.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $113.27 on Friday. The company has a market capitalization of $25.43 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 2.80 and a beta of 1.30. T. Rowe Price Group, Inc. has a 52-week low of $93.53 and a 52-week high of $146.04. The company’s 50 day moving average price is $112.54 and its 200-day moving average price is $113.48.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The asset manager reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.02. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. T. Rowe Price Group had a net margin of 24.01% and a return on equity of 20.36%. The company’s revenue for the quarter was down 21.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.17 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 6.77 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Wednesday, March 15th were given a $1.22 dividend. The ex-dividend date was Tuesday, March 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 4.31%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.20. T. Rowe Price Group’s payout ratio is 72.94%.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew C. Mccormick sold 14,154 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $116.73, for a total transaction of $1,652,196.42. Following the transaction, the vice president now owns 70,319 shares in the company, valued at approximately $8,208,336.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Andrew C. Mccormick sold 14,154 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $116.73, for a total transaction of $1,652,196.42. Following the transaction, the vice president now owns 70,319 shares in the company, valued at approximately $8,208,336.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $114.52, for a total transaction of $1,370,689.88. Following the transaction, the vice president now owns 129,436 shares in the company, valued at approximately $14,823,010.72. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

T. Rowe Price Group Company Profile

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T. Rowe Price Group, Inc engages in the provision of investment management services. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.