Banco Santander S.A. Acquires 2,295 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Banco Santander S.A. boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.5% during the third quarter, HoldingsChannel reports. The fund owned 94,930 shares of the asset manager’s stock after buying an additional 2,295 shares during the quarter. Banco Santander S.A.’s holdings in T. Rowe Price Group were worth $10,341,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after buying an additional 1,054,461 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after acquiring an additional 220,105 shares during the period. AQR Capital Management LLC grew its position in shares of T. Rowe Price Group by 77.2% in the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after purchasing an additional 196,565 shares in the last quarter. Burney Co. bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $20,938,000. Finally, Canada Pension Plan Investment Board boosted its stake in T. Rowe Price Group by 1,328.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock worth $18,681,000 after purchasing an additional 150,665 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TROW has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. The Goldman Sachs Group reduced their price target 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. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Morgan Stanley boosted their target price 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. Finally, Wells Fargo & Company lifted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $115.55.

T. Rowe Price Group Stock Up 0.7 %

Shares of NASDAQ:TROW opened at $118.38 on Friday. The stock has a market cap of $26.30 billion, a PE ratio of 12.95, a PEG ratio of 1.67 and a beta of 1.41. The company’s fifty day moving average is $111.89 and its 200 day moving average is $112.37. T. Rowe Price Group, Inc. has a 52 week low of $96.48 and a 52 week high of $122.27.

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

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.19%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm’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 sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.