Bank of Nova Scotia Buys 233,763 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bank of Nova Scotia grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 1,278.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 252,055 shares of the asset manager’s stock after buying an additional 233,763 shares during the quarter. Bank of Nova Scotia owned approximately 0.11% of T. Rowe Price Group worth $27,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TROW. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after purchasing an additional 134,839 shares during the last quarter. Morgan Stanley grew its stake in shares of T. Rowe Price Group by 0.7% in the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares during the last quarter. Northern Trust Corp grew its stake in shares of T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after purchasing an additional 93,829 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of T. Rowe Price Group by 6.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after purchasing an additional 109,653 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in T. Rowe Price Group by 7.6% in the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after buying an additional 119,305 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TROW has been the topic of several recent analyst reports. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. Evercore ISI dropped their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $106.00 to $120.00 in a report on Thursday, April 11th. UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $112.10.

View Our Latest Report on TROW

T. Rowe Price Group Trading Up 2.0 %

Shares of TROW traded up $2.28 on Friday, reaching $117.83. The company’s stock had a trading volume of 2,670,808 shares, compared to its average volume of 1,046,352. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The stock has a market capitalization of $26.31 billion, a PE ratio of 13.99, a PEG ratio of 2.02 and a beta of 1.40. The firm has a fifty day moving average of $114.97 and a 200-day moving average of $110.37.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted $1.69 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.8 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a $1.24 dividend. The ex-dividend date is Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.21%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

T. Rowe Price Group Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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.