Seizert Capital Partners LLC lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,691 shares of the asset manager's stock after purchasing an additional 6,807 shares during the period. Seizert Capital Partners LLC owned about 0.06% of T. Rowe Price Group worth $12,466,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Fayez Sarofim & Co increased its position in shares of T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after acquiring an additional 425,142 shares in the last quarter. Geode Capital Management LLC increased its position in shares of T. Rowe Price Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after acquiring an additional 116,231 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of T. Rowe Price Group by 1.7% during the fourth quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock worth $271,169,000 after purchasing an additional 40,514 shares during the period. Northern Trust Corp boosted its holdings in shares of T. Rowe Price Group by 10.0% during the fourth quarter. Northern Trust Corp now owns 2,290,739 shares of the asset manager's stock worth $259,060,000 after purchasing an additional 208,304 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after purchasing an additional 387,604 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.
T. Rowe Price Group Price Performance
TROW stock traded down $2.45 on Thursday, reaching $101.45. 3,974,037 shares of the company were exchanged, compared to its average volume of 1,563,114. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock's fifty day moving average price is $98.04 and its 200 day moving average price is $98.54. The firm has a market capitalization of $22.35 billion, a PE ratio of 11.50, a PEG ratio of 3.06 and a beta of 1.49.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm posted $2.38 earnings per share. T. Rowe Price Group's revenue was up .8% compared to the same quarter last year. As a group, research analysts expect 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 declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.
Insider Buying and Selling at T. Rowe Price Group
In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value 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 represents a 4.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.
Analyst Ratings Changes
Several research firms recently commented on TROW. TD Cowen decreased their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Barclays lifted their target price on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Finally, Evercore ISI lowered their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group has an average rating of "Hold" and a consensus price target of $96.64.
Check Out Our Latest Report on T. Rowe Price Group
About T. Rowe Price Group
(
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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