Impact Partnership Wealth LLC Grows Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Impact Partnership Wealth LLC increased its stake in T. Rowe Price Group by 255.3% in the fourth quarter, ending with 15,126 shares worth about $1.55 million.
• Institutional ownership remains high, with hedge funds and other investors holding about 73.39% of the company; several other large funds also added to their positions.
• T. Rowe Price reported better-than-expected quarterly earnings of $2.52 per share and announced a quarterly dividend of $1.30, implying an annualized yield of about 5.0%.

Impact Partnership Wealth LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 255.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,126 shares of the asset manager's stock after buying an additional 10,869 shares during the period. Impact Partnership Wealth LLC's holdings in T. Rowe Price Group were worth $1,549,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Northern Trust Corp increased its position in T. Rowe Price Group by 6.4% during the third quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager's stock worth $259,588,000 after buying an additional 152,451 shares in the last quarter. Dimensional Fund Advisors LP increased its position in T. Rowe Price Group by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager's stock worth $214,557,000 after buying an additional 64,791 shares in the last quarter. Caisse de depot et placement du Quebec increased its position in T. Rowe Price Group by 81.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager's stock worth $134,142,000 after buying an additional 584,949 shares in the last quarter. Norges Bank purchased a new position in T. Rowe Price Group during the fourth quarter worth $128,283,000. Finally, Ameriprise Financial Inc. grew its position in shares of T. Rowe Price Group by 5.5% in the third quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager's stock valued at $89,614,000 after purchasing an additional 45,845 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The stock was 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 in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating for the company in a research report on Friday, April 24th. Evercore lowered their price objective on T. Rowe Price Group from $106.00 to $104.00 in a research report on Monday, May 11th. Barclays lifted their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a research report on Friday, May 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Finally, TD Cowen lifted their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the company a "hold" rating in a research report on Friday, May 1st. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $99.54.

T. Rowe Price Group Trading Up 0.9%

Shares of T. Rowe Price Group stock opened at $104.53 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22. The stock has a market capitalization of $22.40 billion, a P/E ratio of 11.20, a PEG ratio of 5.30 and a beta of 1.51. The business's fifty day moving average price is $97.35 and its 200 day moving average price is $99.25.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued 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. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter last year, the firm earned $2.23 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.63 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a $1.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 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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