Entropy Technologies LP Takes $2.24 Million Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Entropy Technologies LP opened a new position in T. Rowe Price Group during the fourth quarter, buying 21,860 shares worth about $2.24 million.
• Other institutions also increased their holdings, and overall institutional ownership stands at 73.39% of the company’s stock.
• T. Rowe Price reported better-than-expected quarterly earnings of $2.52 per share and announced a quarterly dividend of $1.30, equal to a 4.8% annualized yield.

Entropy Technologies LP bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 21,860 shares of the asset manager's stock, valued at approximately $2,238,000.

Several other large investors have also added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. raised its holdings in shares of T. Rowe Price Group by 17.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager's stock valued at $8,088,000 after purchasing an additional 11,691 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in T. Rowe Price Group by 43.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager's stock worth $32,021,000 after purchasing an additional 95,351 shares during the last quarter. LBP AM SA grew its position in T. Rowe Price Group by 23.9% in the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager's stock worth $16,061,000 after purchasing an additional 30,226 shares in the last quarter. SVB Wealth LLC grew its position in T. Rowe Price Group by 77.5% in the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager's stock worth $3,788,000 after purchasing an additional 16,155 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in T. Rowe Price Group by 1,307.4% in the 4th quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager's stock valued at $33,377,000 after buying an additional 301,934 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group dropped 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 research report on Wednesday, April 8th. The Goldman Sachs Group increased their price target on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of T. Rowe Price Group in a report on Friday, May 8th. TD Cowen boosted their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a "hold" rating in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods upped 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. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and a consensus price target of $100.08.

Insider Buying and Selling

In other news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president owned 83,883 shares of the company's stock, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Down 0.9%

T. Rowe Price Group stock opened at $108.61 on Tuesday. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The firm has a market capitalization of $23.27 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. The firm's 50 day simple moving average is $101.19 and its 200 day simple moving average is $99.67.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.23 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group's payout ratio is currently 55.73%.

T. Rowe Price Group Company Profile

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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