Lbp Am Sa Has $16.06 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Lbp Am Sa increased its stake in T. Rowe Price by 23.9% to 156,879 shares, owning 0.07% of the company worth about $16.06 million at quarter-end.
• T. Rowe Price raised its quarterly dividend to $1.30 (annualized $5.20, ~5.4% yield); the firm reported Q EPS of $2.44 (missed estimates by $0.03) with revenue up 6% year-over-year. Analysts' consensus is muted—an average rating of "Reduce" with an average target price of $97.38.

Lbp Am Sa lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,879 shares of the asset manager's stock after purchasing an additional 30,226 shares during the period. Lbp Am Sa owned 0.07% of T. Rowe Price Group worth $16,061,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TROW. PFG Investments LLC grew its stake in T. Rowe Price Group by 6.5% in the 4th quarter. PFG Investments LLC now owns 2,396 shares of the asset manager's stock valued at $245,000 after buying an additional 147 shares during the last quarter. Farther Finance Advisors LLC grew its stake in T. Rowe Price Group by 14.2% in the 4th quarter. Farther Finance Advisors LLC now owns 9,445 shares of the asset manager's stock valued at $967,000 after buying an additional 1,175 shares during the last quarter. Bingham Private Wealth LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at about $228,000. Allen Wealth Management LLC grew its stake in T. Rowe Price Group by 4.6% in the 4th quarter. Allen Wealth Management LLC now owns 14,491 shares of the asset manager's stock valued at $1,484,000 after buying an additional 636 shares during the last quarter. Finally, Whitener Capital Management Inc. grew its stake in T. Rowe Price Group by 8.0% in the 4th quarter. Whitener Capital Management Inc. now owns 2,640 shares of the asset manager's stock valued at $270,000 after buying an additional 195 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 0.3%

NASDAQ TROW opened at $96.11 on Thursday. The company has a market capitalization of $20.91 billion, a P/E ratio of 10.39, a P/E/G ratio of 4.15 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $82.86 and a 12-month high of $118.22. The firm has a 50-day moving average price of $91.72 and a two-hundred day moving average price of $99.58.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the company posted $2.12 EPS. The business's revenue was up 6.0% on a year-over-year basis. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a dividend of $1.30 per share. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Monday, March 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.4%. T. Rowe Price Group's payout ratio is currently 56.22%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Bank of America upped their price target on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. The Goldman Sachs Group upped their price target on shares of T. Rowe Price Group from $80.00 to $85.00 and gave the company a "sell" rating in a research note on Tuesday. Zacks Research lowered shares of T. Rowe Price Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an "underweight" rating on the stock in a research note on Thursday, February 5th. Finally, Evercore decreased their price target on shares of T. Rowe Price Group from $99.00 to $96.00 in a research note on Friday, April 10th. Ten research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $97.38.

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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