Saudi Central Bank Has $1.73 Million Stake in T. Rowe Price Group, Inc. $TROW

Saudi Central Bank raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 89.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,233 shares of the asset manager’s stock after purchasing an additional 7,178 shares during the period. Saudi Central Bank’s holdings in T. Rowe Price Group were worth $1,732,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Woodline Partners LP lifted its position in shares of 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 period. Focus Partners Wealth increased its stake in shares of T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after acquiring an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in T. Rowe Price Group by 44.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC acquired a new position in T. Rowe Price Group during the 2nd quarter worth approximately $931,000. Finally, Daiwa Securities Group Inc. raised its position in shares of T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after purchasing an additional 1,703 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of analyst reports. TD Cowen raised their price target on shares of T. Rowe Price Group from $108.00 to $110.00 and gave the company a “hold” rating in a research report on Monday, August 31st. Barclays decreased their price objective on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a report on Monday, August 3rd. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. BMO Capital Markets raised their price objective on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $106.15.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Down 0.3%

T. Rowe Price Group stock opened at $109.42 on Wednesday. The company has a market capitalization of $23.34 billion, a PE ratio of 10.97, a P/E/G ratio of 3.63 and a beta of 1.46. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The firm has a fifty day simple moving average of $114.46 and a two-hundred day simple moving average of $104.17.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm earned $2.24 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is currently 52.16%.

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.