QRG Capital Management Inc. Has $4.35 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• QRG Capital Management boosted its stake in T. Rowe Price by 153% in Q4, acquiring 25,685 additional shares to hold 42,476 shares worth about $4.35 million at quarter-end.
• Analysts’ consensus scores T. Rowe Price as a "Reduce" with an average price target of $99.54; ten analysts rate it Hold and five rate it Sell, while individual targets were recently adjusted in roughly the $94–$110 range.
• T. Rowe Price beat quarterly EPS estimates ($2.52 vs. $2.37), saw revenue rise 5.3% year-over-year, and raised its quarterly dividend to $1.30 (annualized $5.20), yielding about 4.9%.

QRG Capital Management Inc. lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 153.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,476 shares of the asset manager's stock after purchasing an additional 25,685 shares during the quarter. QRG Capital Management Inc.'s holdings in T. Rowe Price Group were worth $4,349,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock worth $29,000 after acquiring an additional 238 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of T. Rowe Price Group in the third quarter worth about $30,000. Canton Hathaway LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $31,000. Sound Income Strategies LLC raised its position in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock worth $32,000 after purchasing an additional 189 shares during the period. Finally, Quent Capital LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter worth about $39,000. Institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

TROW has been the subject of several research analyst reports. TD Cowen boosted their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the company a "hold" rating in a research report on Friday, May 1st. BMO Capital Markets raised their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a "market perform" rating in a report on Monday. Keefe, Bruyette & Woods lifted 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 note on Friday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating for the company in a report on Friday, April 24th. Finally, Morgan Stanley set a $105.00 price objective on shares of T. Rowe Price Group in a research report on Monday, April 27th. Ten research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $99.54.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $106.13 on Thursday. The firm has a market cap of $22.74 billion, a PE ratio of 11.38, a P/E/G ratio of 4.56 and a beta of 1.51. The business's 50 day simple moving average is $93.30 and its 200 day simple moving average is $99.20. 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 released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm posted $2.23 EPS. The business's revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.58 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, March 16th. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.27. T. Rowe Price Group's payout ratio is presently 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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.