The Manufacturers Life Insurance Company Has $25.32 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

The Manufacturers Life Insurance Company raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 66.2% in the second quarter, Holdings Channel reports. The fund owned 222,729 shares of the asset manager’s stock after acquiring an additional 88,717 shares during the period. The Manufacturers Life Insurance Company’s holdings in T. Rowe Price Group were worth $25,322,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TROW. Twin Tree Management LP bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $2,989,000. Norges Bank acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $128,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of T. Rowe Price Group during the fourth quarter worth approximately $5,935,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of T. Rowe Price Group by 6.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 174,047 shares of the asset manager’s stock worth $19,787,000 after purchasing an additional 10,077 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in T. Rowe Price Group by 211.0% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 94,184 shares of the asset manager’s stock worth $9,643,000 after purchasing an additional 63,903 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president directly owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Evercore set a $118.00 price target on T. Rowe Price Group in a research report on Monday, August 10th. Barclays dropped their price objective on 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. Finally, TD Cowen upped their target price on 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. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $106.15.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $106.29 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $122.00. The firm has a market cap of $22.67 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 3.52 and a beta of 1.46. The business’s fifty day moving average is $113.83 and its 200-day moving average is $104.36.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.89 billion. During the same period last year, the firm posted $2.24 earnings per share. T. Rowe Price Group’s revenue was up 10.7% compared to the same quarter last year. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 10.16 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 4.9%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s payout ratio is 52.16%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.