Anchyra Partners LLC Invests $48.01 Million in T. Rowe Price Group, Inc. $TROW

Key Points

• Anchyra Partners LLC bought 468,963 shares of T. Rowe Price in Q4 (≈$48.01M), making TROW about 14.7% of its portfolio and its largest holding (Anchyra owns 0.21% of the company).
• Wall Street sentiment is negative: T. Rowe Price has a consensus rating of "Reduce" with an average target of $96.62 after multiple price-target cuts and downgrades from analysts.
• T. Rowe Price raised its quarterly dividend to $1.30 ($5.20 annualized, a 5.2% yield); the company reported Q4 EPS of $2.44 (slightly missing estimates) and trades at a P/E of about 10.7.

Anchyra Partners LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 468,963 shares of the asset manager's stock, valued at approximately $48,012,000. T. Rowe Price Group makes up about 14.7% of Anchyra Partners LLC's portfolio, making the stock its largest holding. Anchyra Partners LLC owned 0.21% of T. Rowe Price Group at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Essex Bank grew its stake in T. Rowe Price Group by 3.6% in the third quarter. Essex Bank now owns 2,914 shares of the asset manager's stock worth $299,000 after purchasing an additional 100 shares in the last quarter. PFG Investments LLC raised its position in T. Rowe Price Group by 4.8% during the 3rd quarter. PFG Investments LLC now owns 2,249 shares of the asset manager's stock valued at $231,000 after purchasing an additional 102 shares in the last quarter. Fiduciary Trust Co lifted its holdings in shares of T. Rowe Price Group by 4.5% in the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock worth $265,000 after buying an additional 111 shares during the period. 1834 Investment Advisors Co. lifted its holdings in shares of T. Rowe Price Group by 0.3% in the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager's stock worth $3,838,000 after buying an additional 115 shares during the period. Finally, Gotham Asset Management LLC grew its position in shares of T. Rowe Price Group by 0.3% during the 3rd quarter. Gotham Asset Management LLC now owns 36,900 shares of the asset manager's stock worth $3,787,000 after buying an additional 119 shares in the last quarter. 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 recent research reports. Bank of America increased their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Jefferies Financial Group lowered their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating for the company in a research report on Wednesday, April 8th. Barclays dropped their price objective on shares of T. Rowe Price Group from $94.00 to $87.00 and set an "underweight" rating on the stock in a research note on Friday, April 17th. TD Cowen cut their price objective on shares of T. Rowe Price Group from $97.00 to $93.00 and set a "hold" rating on the stock in a report on Thursday, April 9th. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 14th. Ten analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Reduce" and an average target price of $96.62.

T. Rowe Price Group Price Performance

Shares of TROW opened at $99.06 on Monday. The company's fifty day moving average price is $92.30 and its 200-day moving average price is $99.29. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The firm has a market capitalization of $21.56 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 4.29 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.T. Rowe Price Group's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.12 EPS. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.69 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.2%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Monday, March 16th. T. Rowe Price Group's payout ratio is currently 56.22%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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