ASR Vermogensbeheer N.V. Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in T. Rowe Price Group, Inc., purchasing 28,838 shares valued at approximately $2.65 million during the 1st quarter.
• Institutional ownership of T. Rowe Price Group stands at 73.39%, with notable increases in holdings from firms like GAMMA Investing LLC and Fayez Sarofim & Co..
• Analysts have recently raised their price targets for T. Rowe Price Group, with Morgan Stanley setting a price target of $116.00, while the stock currently holds a consensus rating of "Hold."

ASR Vermogensbeheer N.V. purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,838 shares of the asset manager's stock, valued at approximately $2,649,000.

Other institutional investors also recently modified their holdings of the company. Marshall Wace LLP acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $63,284,000. Fayez Sarofim & Co boosted its holdings in T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after purchasing an additional 425,142 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in T. Rowe Price Group by 28.2% in 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 valued at $199,367,000 after purchasing an additional 387,604 shares in the last quarter. GAMMA Investing LLC increased its stake in T. Rowe Price Group by 9,555.5% in the 1st 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 during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $32,332,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 1.3%

Shares of NASDAQ:TROW opened at $104.06 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company's 50 day moving average price is $99.26 and its two-hundred day moving average price is $98.20. The firm has a market cap of $22.86 billion, a PE ratio of 11.63, a PEG ratio of 2.86 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion during 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 revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.26 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider directly owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business'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 of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective 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. Keefe, Bruyette & Woods raised their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday. Morgan Stanley boosted their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, Cowen restated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $101.09.

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.

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