T. Rowe Price Group, Inc. $TROW Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.2% in the third quarter, Holdings Channel reports. The fund owned 75,040 shares of the asset manager’s stock after buying an additional 10,463 shares during the quarter. OLD National Bancorp IN’s holdings in T. Rowe Price Group were worth $7,702,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of T. Rowe Price Group by 0.5% in the second quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock valued at $2,549,213,000 after purchasing an additional 130,325 shares during the period. State Street Corp lifted its holdings in T. Rowe Price Group by 1.5% in the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock worth $1,400,241,000 after buying an additional 211,647 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock valued at $757,200,000 after buying an additional 140,385 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of T. Rowe Price Group by 3.4% during the second quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock valued at $578,059,000 after acquiring an additional 197,024 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of T. Rowe Price Group by 0.3% during the second quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock worth $332,415,000 after acquiring an additional 11,036 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the firm’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 transaction, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on TROW shares. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a report on Tuesday, November 25th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Evercore ISI cut their price target on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating on the stock in a report on Friday, December 5th. Finally, Bank of America increased their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $108.31.

T. Rowe Price Group Trading Down 0.7%

TROW stock opened at $104.03 on Wednesday. The stock’s 50 day simple moving average is $102.89 and its 200 day simple moving average is $103.02. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $118.32. The firm has a market cap of $22.70 billion, a P/E ratio of 11.33, a P/E/G ratio of 2.83 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.57 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a dividend of $1.27 per share. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is 55.34%.

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.