National Pension Service Acquires 29,678 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• National Pension Service increased its T. Rowe Price Group stake by 7.0% in the fourth quarter, buying 29,678 additional shares and bringing its total holding to 453,005 shares valued at about $46.4 million.
• T. Rowe Price saw mixed analyst sentiment: several firms adjusted price targets, but the stock’s consensus rating remains "Reduce" with an average target price of $99.54.
• The company reported solid quarterly results, with EPS of $2.52 beating estimates and revenue of $1.86 billion topping expectations, while also ঘোষণাing a quarterly dividend of $1.30 per share yielding about 5.0%.

National Pension Service grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 453,005 shares of the asset manager's stock after buying an additional 29,678 shares during the period. National Pension Service owned 0.21% of T. Rowe Price Group worth $46,379,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. TD Private Client Wealth LLC boosted its stake 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 worth $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake 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 worth $29,000 after purchasing an additional 238 shares in the last quarter. Canton Hathaway LLC bought a new position in T. Rowe Price Group in the 4th quarter worth about $31,000. Sound Income Strategies LLC boosted its stake 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 worth $32,000 after purchasing an additional 189 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake 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 worth $40,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction 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 represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Zacks Research upgraded shares of T. Rowe Price Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 13th. Jefferies Financial Group dropped their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a research note on Wednesday, April 8th. Barclays upped their price target on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an "underweight" rating in a research note on Friday, May 1st. Finally, Evercore dropped their price target on shares of T. Rowe Price Group from $106.00 to $104.00 in a research note on Monday, May 11th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $99.54.

T. Rowe Price Group Stock Performance

TROW opened at $104.53 on Monday. The stock has a market capitalization of $22.40 billion, a P/E ratio of 11.20, a P/E/G ratio of 5.35 and a beta of 1.50. The company's 50-day simple moving average is $97.35 and its two-hundred day simple moving average is $99.22. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its 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. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.23 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.30 per share. The ex-dividend date 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 currently 55.73%.

T. Rowe Price Group 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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