Fort Washington Investment Advisors Inc. OH Buys 13,088 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Fort Washington Investment Advisors increased its stake in T. Rowe Price Group by 3.8% in the first quarter, buying 13,088 more shares and bringing its total holdings to 355,274 shares valued at about $32.0 million.
• Wall Street sentiment remains cautious: analysts have mostly issued Hold ratings, with an average rating of “Reduce” and a consensus price target of $100.38, even as several firms raised their targets.
• T. Rowe Price reported solid quarterly results, with EPS of $2.52 beating estimates and revenue rising 5.3% year over year; the company also declared a quarterly dividend of $1.30 per share, yielding 4.7% annually.

Fort Washington Investment Advisors Inc. OH boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 355,274 shares of the asset manager's stock after buying an additional 13,088 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.16% of T. Rowe Price Group worth $32,024,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TROW. MTM Investment Management LLC grew its position in shares of T. Rowe Price Group by 3.5% in the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager's stock valued at $324,000 after purchasing an additional 107 shares during the last quarter. GenTrust LLC increased its stake in shares of T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager's stock worth $216,000 after purchasing an additional 110 shares during the period. Fiduciary Trust Co lifted its holdings in T. Rowe Price Group by 4.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock worth $265,000 after purchasing an additional 111 shares during the last quarter. 1834 Investment Advisors Co. lifted its holdings in T. Rowe Price Group by 0.3% during the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager's stock worth $3,838,000 after purchasing an additional 115 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in T. Rowe Price Group by 2.1% in the 4th quarter. Allworth Financial LP now owns 5,541 shares of the asset manager's stock valued at $567,000 after purchasing an additional 115 shares during the period. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. 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 report on Friday, May 1st. BMO Capital Markets boosted their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a "market perform" rating in a research report on Monday, May 4th. Zacks Research upgraded shares of T. Rowe Price Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $100.38.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $110.27 on Monday. The stock's fifty day moving average price is $103.94 and its two-hundred day moving average price is $99.92. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22. The firm has a market cap of $23.63 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 5.67 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 20.60% and a net margin of 28.28%.The company's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.23 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.58 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors 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 4.7%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group's payout ratio is 55.73%.

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group 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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