CTC Alternative Strategies Ltd. Buys New Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• CTC Alternative Strategies Ltd. has acquired a new stake in T. Rowe Price Group, purchasing 6,600 shares valued at approximately $606,000 in the first quarter.
• Analysts have raised their price targets for T. Rowe Price Group, with Morgan Stanley increasing it to $116.00 and Barclays setting a target of $95.00, indicating mixed outlooks on the stock.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, resulting in an annual yield of 4.7%, set to be paid on September 29th.

CTC Alternative Strategies Ltd. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,600 shares of the asset manager's stock, valued at approximately $606,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Zions Bancorporation National Association UT purchased a new position in T. Rowe Price Group in the first quarter valued at $27,000. Hexagon Capital Partners LLC increased its stake 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 in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $39,000. Chilton Capital Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $41,000. Finally, Ameriflex Group Inc. acquired a new position in T. Rowe Price Group during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods boosted their price target 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. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Evercore ISI boosted their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "in-line" rating in a research report on Friday. Finally, Barclays restated an "underweight" rating and set a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $101.55.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $108.16 on Monday. The firm's 50 day moving average price is $104.94 and its 200-day moving average price is $97.40. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a market cap of $23.76 billion, a P/E ratio of 12.08, a P/E/G ratio of 2.82 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $2.26 EPS. The business's revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.27 per share. The ex-dividend date is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group's dividend payout ratio is 56.76%.

T. Rowe Price Group Company 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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