Landscape Capital Management L.L.C. Increases Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• Landscape Capital Management boosted its stake in T. Rowe Price Group by 546.2% in the fourth quarter, ending with 18,081 shares valued at about $1.85 million.
• T. Rowe Price reported Q1 earnings of $2.52 per share, beating analyst estimates, while revenue came in slightly above expectations at $1.86 billion and rose 5.3% year over year.
• The company announced a quarterly dividend of $1.30 per share, implying an annualized payout of $5.20 and a 4.8% yield; meanwhile, analysts currently hold a consensus rating of “Reduce”.

Landscape Capital Management L.L.C. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 546.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,081 shares of the asset manager's stock after purchasing an additional 15,283 shares during the period. Landscape Capital Management L.L.C.'s holdings in T. Rowe Price Group were worth $1,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its holdings in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock valued at $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock valued at $29,000 after purchasing an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at $31,000. Sound Income Strategies LLC lifted its holdings in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock valued at $32,000 after purchasing an additional 189 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in T. Rowe Price Group by 92.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager's stock valued at $40,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 0.9%

Shares of NASDAQ:TROW opened at $108.61 on Tuesday. The business has a 50-day moving average price of $101.19 and a 200 day moving average price of $99.67. The company has a market capitalization of $23.27 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 5.61 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $2.23 EPS. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed 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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 55.73%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of T. Rowe Price Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 13th. The Goldman Sachs Group boosted their price target on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a "market perform" rating in a research report on Friday, May 1st. BMO Capital Markets boosted their price target 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. Finally, Barclays boosted their price target on shares of 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. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $100.08.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The stock was 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 directly owned 83,883 shares of the company's stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

About T. Rowe Price Group

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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