QRG Capital Management Inc. Increases Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• QRG Capital Management increased its stake in T. Rowe Price Group by 31% in the first quarter, adding 13,182 shares to bring its total holdings to 55,658 shares worth about $5.0 million.
• Several other institutional investors also adjusted their positions, and institutional ownership remains high at 73.39% of the stock.
• Analysts are generally cautious on TROW, with an average rating of "Reduce" and an average price target of $100.54, while the company recently reported earnings that beat expectations and paid a quarterly dividend of $1.30 per share.

QRG Capital Management Inc. increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 31.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,658 shares of the asset manager's stock after purchasing an additional 13,182 shares during the period. QRG Capital Management Inc.'s holdings in T. Rowe Price Group were worth $5,017,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. MTM Investment Management LLC grew its holdings in T. Rowe Price Group by 3.5% in the 4th quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager's stock valued at $324,000 after buying an additional 107 shares during the period. GenTrust LLC lifted its holdings in shares of T. Rowe Price Group by 5.5% during the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager's stock worth $216,000 after acquiring an additional 110 shares during the period. Fiduciary Trust Co lifted its holdings in shares of T. Rowe Price Group by 4.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock worth $265,000 after acquiring an additional 111 shares during the period. 1834 Investment Advisors Co. boosted its position in shares of T. Rowe Price Group by 0.3% in the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager's stock worth $3,838,000 after acquiring an additional 115 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of T. Rowe Price Group by 2.1% in the fourth quarter. Allworth Financial LP now owns 5,541 shares of the asset manager's stock worth $567,000 after acquiring an additional 115 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Friday, June 26th. BMO Capital Markets lifted their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a "market perform" rating in a report on Monday, May 4th. Barclays boosted their price objective on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a research note on Friday, May 1st. The Goldman Sachs Group increased their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a research report on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods lifted their target price on T. Rowe Price Group from $95.00 to $107.00 and gave the company a "market perform" rating in a report on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of "Reduce" and an average price target of $100.54.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company's stock, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

TROW opened at $118.55 on Monday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $118.64. The company has a 50 day moving average of $105.76 and a two-hundred day moving average of $100.34. The company has a market cap of $25.40 billion, a P/E ratio of 12.71, a P/E/G ratio of 6.02 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm posted $2.23 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $1.30 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.4%. T. Rowe Price Group's dividend payout ratio (DPR) is 55.73%.

T. Rowe Price Group Company 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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