ARGA Investment Management LP Has $41.63 Million Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• ARGA Investment Management LP cut its stake in T. Rowe Price by 28.5% in Q4, selling 161,919 shares and now holding 406,648 shares worth $41.63 million (about 0.19% of TROW and the firm's 17th-largest holding).
• Analysts and institutions show caution: MarketBeat's average rating is Reduce with an average target of $96.46 (10 Hold, 5 Sell), and institutional investors own 73.39% of the stock.
• T. Rowe Price raised its quarterly dividend to $1.30 (annualized $5.20) for a 5.1% yield, and recently reported Q1 EPS of $2.44 (missing by $0.03) with revenue up 6% year-over-year.

ARGA Investment Management LP lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 28.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 406,648 shares of the asset manager's stock after selling 161,919 shares during the quarter. T. Rowe Price Group accounts for approximately 1.1% of ARGA Investment Management LP's holdings, making the stock its 17th largest holding. ARGA Investment Management LP owned 0.19% of T. Rowe Price Group worth $41,633,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock worth $29,000 after buying an additional 238 shares during the period. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter worth approximately $30,000. Canton Hathaway LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth approximately $31,000. Sound Income Strategies LLC raised its holdings in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock worth $32,000 after buying an additional 189 shares during the period. Finally, Salomon & Ludwin LLC raised its holdings in T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager's stock worth $33,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on TROW. TD Cowen dropped their price target on T. Rowe Price Group from $97.00 to $93.00 and set a "hold" rating on the stock in a research note on Thursday, April 9th. Bank of America lifted their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Evercore lowered their price objective on shares of T. Rowe Price Group from $99.00 to $96.00 in a report on Friday, April 10th. The Goldman Sachs Group lifted their price objective on shares of T. Rowe Price Group from $80.00 to $85.00 and gave the company a "sell" rating in a report on Tuesday, April 14th. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 14th. Ten research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $96.46.

T. Rowe Price Group Trading Up 2.3%

Shares of TROW opened at $101.36 on Tuesday. The company has a market cap of $22.06 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 4.29 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The company's fifty day simple moving average is $92.45 and its 200 day simple moving average is $99.25.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion for 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 period last year, the firm earned $2.12 EPS. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. 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 dividend payout ratio (DPR) is presently 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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