Fox Run Management L.L.C. purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 9,214 shares of the asset manager's stock, valued at approximately $846,000.
Other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its position in shares of T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after purchasing an additional 212 shares during the last quarter. Wealthfront Advisers LLC raised its position in shares of T. Rowe Price Group by 109.2% in the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock worth $6,369,000 after purchasing an additional 36,190 shares during the last quarter. Mather Group LLC. raised its position in shares of T. Rowe Price Group by 11.9% in the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock worth $12,455,000 after purchasing an additional 14,371 shares during the last quarter. GAMMA Investing LLC raised its position in shares of T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after purchasing an additional 329,761 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of T. Rowe Price Group by 12.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock worth $19,575,000 after purchasing an additional 24,323 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on TROW shares. Morgan Stanley lifted 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. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Evercore ISI lifted their price objective on T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Eight research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $101.09.
Read Our Latest Stock Analysis on TROW
T. Rowe Price Group Stock Performance
Shares of TROW traded down $0.5470 during mid-day trading on Wednesday, hitting $105.7530. 643,797 shares of the stock were exchanged, compared to its average volume of 1,792,553. The company has a market cap of $23.24 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 2.90 and a beta of 1.47. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The firm has a 50-day moving average of $101.38 and a two-hundred day moving average of $97.67.
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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.26 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.
T. Rowe Price Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given 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 dividend yield of 4.8%. T. Rowe Price Group's payout ratio is currently 56.76%.
Insider Buying and Selling 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 transaction of $190,860.00. Following the transaction, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.
T. Rowe Price Group Company Profile
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Free Report)
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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