iA Global Asset Management Inc. Purchases 4,240 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

iA Global Asset Management Inc. lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 53.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,105 shares of the asset manager’s stock after purchasing an additional 4,240 shares during the quarter. iA Global Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,319,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. EP Wealth Advisors LLC grew its position in T. Rowe Price Group by 146.6% during the third quarter. EP Wealth Advisors LLC now owns 8,969 shares of the asset manager’s stock worth $977,000 after buying an additional 5,332 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at about $439,000. Worldquant Millennium Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at about $13,559,000. Weiss Asset Management LP purchased a new position in shares of T. Rowe Price Group during the third quarter worth about $5,687,000. Finally, Stevens Capital Management LP bought a new position in shares of T. Rowe Price Group in the third quarter worth approximately $265,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $123.83 on Monday. T. Rowe Price Group, Inc. has a one year low of $97.50 and a one year high of $125.81. The business’s 50 day simple moving average is $115.26 and its two-hundred day simple moving average is $113.06. The stock has a market capitalization of $27.51 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.75 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.17 earnings per share. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.01%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research analyst reports. Barclays lifted their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Morgan Stanley lifted their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, TD Cowen reduced their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $115.55.

About T. Rowe Price Group

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.