Capricorn Fund Managers Ltd Takes Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Capricorn Fund Managers Ltd opened a new position in T. Rowe Price Group during the first quarter, buying 83,475 shares valued at about $7.5 million.
• Wall Street sentiment remains cautious: analysts have a “Reduce” consensus rating on TROW, with an average price target of $100.54, below the stock’s recent trading level.
• T. Rowe Price reported better-than-expected quarterly earnings of $2.52 per share and continued to pay a quarterly dividend of $1.30, implying an annual yield of about 4.6%.

Capricorn Fund Managers Ltd acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 83,475 shares of the asset manager's stock, valued at approximately $7,524,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC raised its position in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock valued at $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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 valued at $29,000 after buying an additional 238 shares in the last quarter. Canton Hathaway LLC bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $31,000. Sound Income Strategies LLC boosted its holdings in T. Rowe Price Group by 170.3% in 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, DV Equities LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at approximately $32,000. Institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a report on Wednesday, April 8th. Barclays lifted their price target on T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a research report on Friday, May 1st. Keefe, Bruyette & Woods boosted their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the company a "market perform" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a report on Friday, April 24th. Finally, The Goldman Sachs Group raised their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a research note on Tuesday. Eleven research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $100.54.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $113.69 on Wednesday. The firm has a fifty day moving average price of $104.65 and a two-hundred day moving average price of $100.06. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 5.81 and a beta of 1.50. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the prior year, the firm posted $2.23 earnings per share. The business's quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.69 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group's dividend payout ratio is currently 55.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president owned 83,883 shares of the company's stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

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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