T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,085 shares of the asset manager’s stock after buying an additional 4,841 shares during the period. Mackenzie Financial Corp’s holdings in T. Rowe Price Group were worth $3,469,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TROW. TD Asset Management Inc increased its position in T. Rowe Price Group by 6.3% during the fourth quarter. TD Asset Management Inc now owns 85,412 shares of the asset manager’s stock worth $9,198,000 after buying an additional 5,068 shares during the period. California State Teachers Retirement System grew its stake in shares of T. Rowe Price Group by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 364,180 shares of the asset manager’s stock valued at $39,219,000 after purchasing an additional 8,404 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of T. Rowe Price Group by 5.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 165,722 shares of the asset manager’s stock valued at $17,847,000 after purchasing an additional 8,678 shares during the last quarter. NEOS Investment Management LLC grew its stake in shares of T. Rowe Price Group by 41.2% in the 4th quarter. NEOS Investment Management LLC now owns 3,163 shares of the asset manager’s stock valued at $341,000 after purchasing an additional 923 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of T. Rowe Price Group by 5.5% in the 4th quarter. Rafferty Asset Management LLC now owns 83,949 shares of the asset manager’s stock valued at $9,040,000 after purchasing an additional 4,369 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Wells Fargo & Company initiated coverage on T. Rowe Price Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 target price on the stock. Evercore ISI lowered their target price on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $113.30.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Performance

TROW opened at $107.11 on Wednesday. The business’s fifty day moving average is $107.56 and its two-hundred day moving average is $112.85. The company has a market cap of $23.92 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.75 and a beta of 1.41. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.02 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post 8.96 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.63%. T. Rowe Price Group’s payout ratio is 58.91%.

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.