Entropy Technologies LP Has $572,000 Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Entropy Technologies LP has reduced its stake in T. Rowe Price Group by 30.7%, selling 2,760 shares to hold 6,230 shares worth $572,000 at the end of the quarter.
• Multiple institutional investors, including Invesco and Charles Schwab, have increased their holdings in T. Rowe Price Group, signaling a growing interest in the company's stock.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27, representing an annualized dividend of $5.08 and a dividend yield of 4.7%.

Entropy Technologies LP lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,230 shares of the asset manager's stock after selling 2,760 shares during the period. Entropy Technologies LP's holdings in T. Rowe Price Group were worth $572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in T. Rowe Price Group during the first quarter valued at $27,000. Ameriflex Group Inc. acquired a new stake in T. Rowe Price Group during the fourth quarter valued at $42,000. Hexagon Capital Partners LLC boosted its position 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 valued at $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in T. Rowe Price Group during the first quarter valued at $39,000. Finally, Chilton Capital Management LLC acquired a new stake in T. Rowe Price Group during the first quarter valued at $41,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TROW. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted 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. 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, August 4th. Barclays reaffirmed an "underweight" rating and issued a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, Evercore ISI boosted their price target on T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a research report on Monday, August 4th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $101.09.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded down $2.02 during trading on Friday, reaching $107.04. 1,205,851 shares of the company traded hands, compared to its average volume of 1,811,601. The stock's 50 day moving average price is $100.68 and its two-hundred day moving average price is $97.98. The company has a market cap of $23.52 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 2.99 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The company's quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 earnings per share. Equities research analysts expect 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's payout ratio is presently 56.76%.

Insider Activity at T. Rowe Price Group

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 value of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by insiders.

About T. Rowe Price Group

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.