BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 31,735 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 82.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 70,441 shares of the asset manager’s stock after buying an additional 31,735 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in T. Rowe Price Group were worth $7,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. King Luther Capital Management Corp raised its position in shares of T. Rowe Price Group by 1.5% in the third quarter. King Luther Capital Management Corp now owns 26,742 shares of the asset manager’s stock valued at $2,913,000 after buying an additional 387 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in T. Rowe Price Group by 52.3% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 6,789 shares of the asset manager’s stock worth $740,000 after acquiring an additional 2,332 shares during the period. Advisors Asset Management Inc. raised its holdings in T. Rowe Price Group by 9.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 66,818 shares of the asset manager’s stock valued at $7,278,000 after acquiring an additional 5,910 shares in the last quarter. Commerce Bank lifted its position in shares of T. Rowe Price Group by 4.1% during the 3rd quarter. Commerce Bank now owns 93,198 shares of the asset manager’s stock valued at $10,152,000 after acquiring an additional 3,686 shares during the period. Finally, Strategy Asset Managers LLC grew its holdings in shares of T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TROW. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. TD Cowen reduced their price target on shares of 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. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Finally, Morgan Stanley upped their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $115.55.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $119.84 on Monday. The company has a 50 day simple moving average of $112.20 and a 200 day simple moving average of $112.44. T. Rowe Price Group, Inc. has a 1 year low of $96.48 and a 1 year high of $122.27. The firm has a market cap of $26.62 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 54.27%.

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.