Capital Fund Management S.A. Has $2.56 Million Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Capital Fund Management S.A. reduced its stake in T. Rowe Price Group, Inc. by 68.0%, now owning 27,823 shares valued at $2,556,000.
• Analysts have adjusted their price targets for T. Rowe Price Group, with Barclays setting a target of $95.00 while JPMorgan Chase & Co. raised theirs to $102.00.
• The company's quarterly earnings report showed earnings per share of $2.24, exceeding consensus estimates of $2.15, despite a 0.6% drop in revenue compared to the previous year.

Capital Fund Management S.A. cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 68.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,823 shares of the asset manager's stock after selling 59,060 shares during the quarter. Capital Fund Management S.A.'s holdings in T. Rowe Price Group were worth $2,556,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TROW. Cooper Financial Group boosted its holdings in shares of T. Rowe Price Group by 5.2% during the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after purchasing an additional 113 shares during the last quarter. Associated Banc Corp boosted its holdings in shares of T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after purchasing an additional 114 shares during the last quarter. Wealthcare Capital Partners LLC boosted its holdings in T. Rowe Price Group by 1.2% in the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock valued at $866,000 after acquiring an additional 115 shares during the last quarter. Finally, Cullen Investment Group LTD. boosted its holdings in T. Rowe Price Group by 0.9% in the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after acquiring an additional 117 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Evercore ISI raised their price objective on T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a research report on Monday, August 4th. Barclays reissued an "underweight" rating and issued a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Keefe, Bruyette & Woods raised their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $101.09.

T. Rowe Price Group Trading Up 0.7%

T. Rowe Price Group stock traded up $0.81 during midday trading on Wednesday, hitting $109.37. The stock had a trading volume of 933,594 shares, compared to its average volume of 1,464,928. The stock has a market cap of $24.03 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.83 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The business has a fifty day moving average price of $103.09 and a 200 day moving average price of $97.56.

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 for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company earned $2.26 earnings per share. T. Rowe Price Group's quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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 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 4.6%. T. Rowe Price Group's payout ratio is currently 56.76%.

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.