13,476 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has acquired 13,476 shares of T. Rowe Price Group, Inc. valued at approximately $1,238,000, indicating increased institutional interest in the asset manager.
• Wall Street analysts currently have a consensus rating of "Hold" on T. Rowe Price Group shares, with a price target averaging $101.09, reflecting cautious optimism.
• T. Rowe Price reported $2.24 EPS for the most recent quarter, surpassing analysts' expectations, despite a slight year-over-year revenue decline of 0.6%.

Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 13,476 shares of the asset manager's stock, valued at approximately $1,238,000.

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its holdings in shares of T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after acquiring an additional 212 shares in the last quarter. Wealthfront Advisers LLC increased its stake in T. Rowe Price Group by 109.2% during the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock valued at $6,369,000 after purchasing an additional 36,190 shares in the last quarter. Mather Group LLC. raised its holdings in T. Rowe Price Group by 11.9% during the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock worth $12,455,000 after buying an additional 14,371 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after buying an additional 329,761 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of T. Rowe Price Group by 12.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock valued at $19,575,000 after buying an additional 24,323 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays restated an "underweight" rating and issued a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Evercore ISI raised their target price on T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Morgan Stanley lifted their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Finally, Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $101.09.

T. Rowe Price Group Stock Performance

NASDAQ:TROW traded down $0.89 during trading hours on Thursday, reaching $109.06. The stock had a trading volume of 940,729 shares, compared to its average volume of 1,815,481. The stock has a market cap of $23.96 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 2.93 and a beta of 1.47. The stock has a 50 day simple moving average of $100.36 and a 200 day simple moving average of $98.02. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.26 EPS. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.7%. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group 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.