MQS Management LLC Acquires New Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

MQS Management LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,437 shares of the asset manager's stock, valued at approximately $499,000.

Several other large investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in shares of T. Rowe Price Group by 27.9% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after purchasing an additional 212 shares in the last quarter. Schroder Investment Management Group grew its position in T. Rowe Price Group by 49.4% in the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after buying an additional 73,307 shares in the last quarter. Mather Group LLC. increased its stake in T. Rowe Price Group by 11.9% during the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after buying an additional 14,371 shares during the period. GAMMA Investing LLC raised its position in shares of T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after buying an additional 329,761 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $9,590,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a report on Monday, April 14th. Bank of America dropped their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. TD Cowen decreased their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Finally, Citigroup reduced their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and a consensus price target of $95.82.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider owned 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $101.47 on Monday. The firm's 50 day moving average price is $95.44 and its two-hundred day moving average price is $99.08. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 3.10 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. T. Rowe Price Group's revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.38 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $1.27 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.01%. T. Rowe Price Group's dividend payout ratio is 57.60%.

T. Rowe Price Group Profile

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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