First Trust Direct Indexing L.P. trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,743 shares of the asset manager’s stock after selling 368 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in T. Rowe Price Group were worth $419,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its stake in T. Rowe Price Group by 18.3% during the 1st quarter. BlackRock Inc. now owns 21,766,218 shares of the asset manager’s stock worth $2,457,406,000 after acquiring an additional 3,365,883 shares in the last quarter. Norges Bank acquired a new stake in T. Rowe Price Group during the 4th quarter worth $208,014,000. Victory Capital Management Inc. raised its stake in T. Rowe Price Group by 226.9% during the 4th quarter. Victory Capital Management Inc. now owns 2,714,587 shares of the asset manager’s stock worth $296,053,000 after acquiring an additional 1,884,127 shares in the last quarter. Vanguard Group Inc. raised its stake in T. Rowe Price Group by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after acquiring an additional 625,340 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in T. Rowe Price Group by 10.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,799,427 shares of the asset manager’s stock worth $523,425,000 after acquiring an additional 453,033 shares in the last quarter. 75.85% of the stock is currently owned by institutional investors and hedge funds.
T. Rowe Price Group Stock Up 0.5 %
Shares of NASDAQ:TROW opened at $105.95 on Tuesday. The company has a market cap of $23.76 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 3.16 and a beta of 1.32. T. Rowe Price Group, Inc. has a fifty-two week low of $93.53 and a fifty-two week high of $134.64. The firm’s 50-day simple moving average is $113.26 and its 200-day simple moving average is $111.04.
T. Rowe Price Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Thursday, September 14th. T. Rowe Price Group’s dividend payout ratio is currently 72.73%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on TROW shares. Citigroup lifted their price target on shares of T. Rowe Price Group from $98.00 to $100.00 and gave the stock a “sell” rating in a research note on Friday, July 14th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, July 31st. StockNews.com assumed coverage on shares of T. Rowe Price Group in a research report on Thursday, August 17th. They set a “hold” rating on the stock. UBS Group raised their price objective on shares of T. Rowe Price Group from $83.00 to $90.00 and gave the stock a “sell” rating in a research report on Monday, July 31st. Finally, Wells Fargo & Company raised their price objective on shares of T. Rowe Price Group from $117.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Monday, July 31st. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $96.73.
Read Our Latest Research Report on TROW
Insider Buying and Selling
In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $111.82, for a total transaction of $1,338,373.58. Following the sale, the vice president now owns 129,436 shares of the company’s stock, valued at $14,473,533.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by insiders.
T. Rowe Price Group 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.
Featured Articles
- Five stocks we like better than T. Rowe Price Group
- How to Evaluate a Stock Before Buying
- 2 Must-Have Silicon Companies That Don’t Make Microchips
- How to Invest in Tech Stocks and Top Tech Stocks to Consider
- Small Caps That Have Priced In A Hard Landing For Big Upside
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- This May Have Ended Alibaba’s Winter, But Is It Time To Buy?
Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.
