Shell Asset Management Co. Boosts Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Shell Asset Management Co. increased its stake in T. Rowe Price Group by 18.9%, owning 22,701 shares worth $2,191,000 as of the latest SEC filing.
• Recent analyst reports led to varied price target adjustments for T. Rowe Price Group, with the average target set at $104.92 and a consensus rating of "Reduce."
• The company declared a quarterly dividend of $1.27 per share, resulting in an annualized dividend yield of 4.8% and a payout ratio of 56.76%.

Shell Asset Management Co. grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 18.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,701 shares of the asset manager's stock after purchasing an additional 3,603 shares during the period. Shell Asset Management Co.'s holdings in T. Rowe Price Group were worth $2,191,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $27,000. Hexagon Capital Partners LLC increased its stake in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of T. Rowe Price Group in the first quarter worth $39,000. Cromwell Holdings LLC increased its stake in shares of T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager's stock worth $41,000 after buying an additional 418 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group in the first quarter worth $41,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Wall Street Analyst Weigh In

TROW has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Jefferies Financial Group lifted their price target on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a "hold" rating in a research note on Tuesday. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They issued a "market perform" rating and a $108.00 price target for the company. Bank of America lifted their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an "underperform" rating in a research note on Thursday, October 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of "Reduce" and an average price target of $104.92.

T. Rowe Price Group Price Performance

TROW stock opened at $105.82 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The firm has a fifty day moving average price of $105.76 and a two-hundred day moving average price of $98.32. The firm has a market cap of $23.25 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 6.82 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm earned $2.26 earnings per share. The firm's revenue for the quarter was down .6% compared to the same quarter last year. As a group, 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 company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Profile

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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