NFJ Investment Group LLC decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 28.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,180 shares of the asset manager's stock after selling 23,713 shares during the period. NFJ Investment Group LLC's holdings in T. Rowe Price Group were worth $5,529,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Exchange Traded Concepts LLC increased its stake in shares of T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after acquiring an additional 212 shares during the last quarter. Wealthfront Advisers LLC increased its position in T. Rowe Price Group by 109.2% during the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock worth $6,369,000 after purchasing an additional 36,190 shares during the last quarter. Mather Group LLC. raised its stake in T. Rowe Price Group by 11.9% during the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock worth $12,455,000 after purchasing an additional 14,371 shares during the period. GAMMA Investing LLC boosted its holdings in T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after purchasing an additional 329,761 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of T. Rowe Price Group by 12.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock valued at $19,575,000 after buying an additional 24,323 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at T. Rowe Price Group
In other T. Rowe Price Group 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 sale, the vice president owned 44,789 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Evercore ISI reaffirmed a "positive" rating on shares of T. Rowe Price Group in a research note on Friday. Wells Fargo & Company upped their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Barclays reaffirmed an "underweight" rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Finally, Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $101.55.
Read Our Latest Stock Analysis on TROW
T. Rowe Price Group Price Performance
Shares of NASDAQ TROW traded down $1.02 during mid-day trading on Tuesday, hitting $107.15. The company had a trading volume of 1,344,135 shares, compared to its average volume of 1,347,287. The company has a market capitalization of $23.54 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 2.82 and a beta of 1.51. The business's 50-day simple moving average is $105.17 and its 200 day simple moving average is $97.41. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter last year, the business posted $2.26 EPS. The business's quarterly revenue was down .6% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.
T. Rowe Price Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.76%.
T. Rowe Price Group Company Profile
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Free Report)
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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