Mackenzie Financial Corp Buys Shares of 316,433 T. Rowe Price Group, Inc. (TROW)

Mackenzie Financial Corp bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 316,433 shares of the asset manager’s stock, valued at approximately $28,685,000. Mackenzie Financial Corp owned about 0.13% of T. Rowe Price Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TROW. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of T. Rowe Price Group by 10.2% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 672,957 shares of the asset manager’s stock valued at $61,004,000 after purchasing an additional 62,100 shares during the last quarter. KBC Group NV increased its holdings in shares of T. Rowe Price Group by 7.7% in the third quarter. KBC Group NV now owns 25,926 shares of the asset manager’s stock valued at $2,350,000 after purchasing an additional 1,846 shares during the last quarter. Hartford Investment Management Co. increased its holdings in shares of T. Rowe Price Group by 0.9% in the third quarter. Hartford Investment Management Co. now owns 87,971 shares of the asset manager’s stock valued at $7,975,000 after purchasing an additional 757 shares during the last quarter. Sun Life Financial INC increased its holdings in shares of T. Rowe Price Group by 215.8% in the third quarter. Sun Life Financial INC now owns 5,571 shares of the asset manager’s stock valued at $505,000 after purchasing an additional 3,807 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 2.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,246,962 shares of the asset manager’s stock valued at $113,038,000 after purchasing an additional 31,636 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on TROW. UBS increased their price target on T. Rowe Price Group from $69.00 to $72.00 and gave the company a “sell” rating in a report on Friday, October 27th. Barclays raised their target price on T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research note on Friday, October 27th. Citigroup raised their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Jefferies Group reissued a “buy” rating and set a $104.00 target price (up previously from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. Finally, Morgan Stanley raised T. Rowe Price Group from an “underweight” rating to an “equal” rating and raised their target price for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $89.50.

In other news, VP W. Sharps Robert sold 5,000 shares of T. Rowe Price Group stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $98.64, for a total transaction of $493,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William J. Stromberg sold 30,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total value of $2,912,700.00. Following the sale, the chief executive officer now owns 534,077 shares in the company, valued at approximately $51,853,535.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,705 shares of company stock worth $7,861,938. 3.60% of the stock is owned by insiders.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at $101.64 on Wednesday. The stock has a market capitalization of $24,914.31, a price-to-earnings ratio of 20.08, a P/E/G ratio of 1.89 and a beta of 1.32. T. Rowe Price Group, Inc. has a fifty-two week low of $65.33 and a fifty-two week high of $104.40.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the business posted $1.17 earnings per share. T. Rowe Price Group’s revenue was up 11.8% compared to the same quarter last year. analysts expect that T. Rowe Price Group, Inc. will post 5.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 37.38%.

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About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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