JLB & Associates Inc. Has $1.85 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Key Points

• JLB & Associates cut its stake in T. Rowe Price by 37.0%, selling 10,635 shares and leaving it with 18,085 shares valued at about $1.85 million per the latest 13F filing.
• Analyst sentiment is weak overall — MarketBeat shows a consensus rating of "Reduce" with a consensus price target of $99.54, despite several recent modest upward revisions from individual firms.
• T. Rowe Price reported an EPS beat (Q: $2.52 vs. $2.37) with revenue up 5.3%, and declared a quarterly dividend of $1.30 (annualized yield ~5.0%, ex-dividend June 15).

JLB & Associates Inc. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 37.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,085 shares of the asset manager's stock after selling 10,635 shares during the period. JLB & Associates Inc.'s holdings in T. Rowe Price Group were worth $1,852,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Essex Bank increased its holdings in shares of T. Rowe Price Group by 3.6% in the third quarter. Essex Bank now owns 2,914 shares of the asset manager's stock worth $299,000 after acquiring an additional 100 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of T. Rowe Price Group by 4.8% during the 3rd quarter. PFG Investments LLC now owns 2,249 shares of the asset manager's stock valued at $231,000 after purchasing an additional 102 shares in the last quarter. GenTrust LLC lifted its holdings in shares of T. Rowe Price Group by 5.5% during the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager's stock valued at $216,000 after purchasing an additional 110 shares in the last quarter. Fiduciary Trust Co grew its position in shares of T. Rowe Price Group by 4.5% in the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock valued at $265,000 after purchasing an additional 111 shares during the period. Finally, 1834 Investment Advisors Co. grew its position in shares of T. Rowe Price Group by 0.3% in the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager's stock valued at $3,838,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. BMO Capital Markets raised their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a "market perform" rating in a report on Monday. TD Cowen upped their price target on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a "hold" rating in a report on Friday, May 1st. Bank of America increased their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Barclays raised their price objective on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an "underweight" rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group increased their target price on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Ten equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of "Reduce" and a consensus price target of $99.54.

T. Rowe Price Group Stock Down 2.4%

Shares of TROW stock opened at $103.59 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22. The company's fifty day simple moving average is $93.48 and its 200-day simple moving average is $99.20. The firm has a market cap of $22.20 billion, a PE ratio of 11.10, a P/E/G ratio of 4.64 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business earned $2.23 EPS. The company's revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.61 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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 given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 5.0%. T. Rowe Price Group's dividend payout ratio is 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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