AlphaQuest LLC Has $421,000 Stock Position in T. Rowe Price Group, Inc. $TROW

Key Points

• AlphaQuest LLC significantly increased its stake in T. Rowe Price Group by 535.2% during the 1st quarter, now holding 4,580 shares worth approximately $421,000.
• T. Rowe Price Group has announced a quarterly dividend of $1.27 per share, payable on September 29th, representing a yield of 4.7%.
• As of August 1st, T. Rowe Price Group reported earnings of $2.24 EPS, exceeding analyst expectations of $2.15.

AlphaQuest LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 535.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,580 shares of the asset manager's stock after acquiring an additional 3,859 shares during the period. AlphaQuest LLC's holdings in T. Rowe Price Group were worth $421,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TROW. Invesco Ltd. grew its position in shares of T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after acquiring an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after acquiring an additional 519,075 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after acquiring an additional 387,604 shares during the last quarter. GAMMA Investing LLC grew its position in shares of T. Rowe Price Group by 9,555.5% during the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after acquiring an additional 329,761 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after acquiring an additional 222,556 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Activity

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TROW shares. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Barclays reissued an "underweight" rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Finally, Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of "Reduce" and an average price target of $101.09.

T. Rowe Price Group Price Performance

Shares of TROW traded down $0.66 during mid-day trading on Friday, hitting $107.62. The company's stock had a trading volume of 1,171,833 shares, compared to its average volume of 1,285,725. The firm has a 50-day moving average price of $103.70 and a 200 day moving average price of $97.54. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 2.83 and a beta of 1.47. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week 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, topping the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

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.