Caxton Associates LLP Takes $1.03 Million Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Caxton Associates LLP acquired 11,232 shares of T. Rowe Price Group, Inc., valued at approximately $1,032,000, in the first quarter of the year.
• T. Rowe Price Group announced a quarterly dividend of $1.27 to be paid on September 29th, representing an annual yield of 4.8%.
• The company's stock opened at $106.64 and has a market cap of $23.43 billion, with a P/E ratio of 11.92.

Caxton Associates LLP bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,232 shares of the asset manager's stock, valued at approximately $1,032,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $27,000. Hexagon Capital Partners LLC lifted its stake in 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. Smallwood Wealth Investment Management LLC acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at $39,000. Chilton Capital Management LLC bought a new position in shares of T. Rowe Price Group in the 1st quarter valued at $41,000. Finally, Ameriflex Group Inc. bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TROW. Wells Fargo & Company raised their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Zacks Research lowered shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Evercore ISI restated a "positive" rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Finally, Barclays reaffirmed an "underweight" rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of "Reduce" and an average price target of $101.55.

T. Rowe Price Group Stock Performance

Shares of TROW traded down $0.06 during mid-day trading on Friday, reaching $105.63. 1,122,936 shares of the company were exchanged, compared to its average volume of 1,429,752. The business has a 50 day simple moving average of $105.69 and a two-hundred day simple moving average of $97.53. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market capitalization of $23.21 billion, a PE ratio of 11.80, a PEG ratio of 2.76 and a beta of 1.51.

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

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) 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.