Legal & General Group Plc Has $213.78 Million Holdings in T. Rowe Price Group, Inc. $TROW

Legal & General Group Plc boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,215,323 shares of the asset manager’s stock after purchasing an additional 28,638 shares during the period. Legal & General Group Plc owned about 1.01% of T. Rowe Price Group worth $213,779,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TROW. AE Wealth Management LLC acquired a new stake in T. Rowe Price Group in the 1st quarter valued at approximately $202,000. Pinnacle Associates Ltd. grew its stake in shares of T. Rowe Price Group by 3.4% during the 1st quarter. Pinnacle Associates Ltd. now owns 15,267 shares of the asset manager’s stock worth $1,403,000 after acquiring an additional 500 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of T. Rowe Price Group by 20.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,142 shares of the asset manager’s stock valued at $564,000 after purchasing an additional 1,059 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of T. Rowe Price Group by 468.1% in the first quarter. Mediolanum International Funds Ltd now owns 84,425 shares of the asset manager’s stock valued at $7,731,000 after purchasing an additional 69,565 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in shares of T. Rowe Price Group by 0.3% in the first quarter. TD Asset Management Inc now owns 85,806 shares of the asset manager’s stock worth $7,883,000 after purchasing an additional 254 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays set a $101.00 price target on shares of T. Rowe Price Group in a research note on Monday, November 3rd. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Evercore ISI upped their target price on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. The Goldman Sachs Group increased their price target on T. Rowe Price Group from $93.00 to $98.00 in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $109.38.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $100.31 on Monday. The stock has a 50-day simple moving average of $103.16 and a 200 day simple moving average of $101.67. The stock has a market capitalization of $21.89 billion, a P/E ratio of 11.21, a PEG ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company earned $2.57 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by corporate 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.