Guinness Asset Management LTD Acquires 1,497 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Guinness Asset Management LTD raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 65.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,770 shares of the asset manager’s stock after acquiring an additional 1,497 shares during the quarter. Guinness Asset Management LTD’s holdings in T. Rowe Price Group were worth $426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after acquiring an additional 7,503 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $15,907,000. Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group in the third quarter worth $516,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after buying an additional 231,286 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.0 %

NASDAQ TROW opened at $113.21 on Monday. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The company has a 50 day moving average of $117.71 and a 200-day moving average of $112.84. The firm has a market cap of $25.15 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.38%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TROW. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Barclays cut their price objective on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research report on Friday. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $115.82.

T. Rowe Price Group Company 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.