SVB Wealth LLC Buys 11,074 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• SVB Wealth LLC increased its stake in T. Rowe Price Group by 29.9% in the first quarter, buying 11,074 additional shares and bringing its total holding to 48,074 shares worth about $4.33 million.
• T. Rowe Price posted better-than-expected quarterly results, reporting earnings of $2.52 per share versus the $2.37 consensus and revenue of $1.86 billion, up 5.3% from a year ago.
• The company continues to pay a sizable dividend, declaring a quarterly payout of $1.30 per share, or $5.20 annualized, which works out to a 4.8% yield.

SVB Wealth LLC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 29.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,074 shares of the asset manager's stock after acquiring an additional 11,074 shares during the quarter. SVB Wealth LLC's holdings in T. Rowe Price Group were worth $4,333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager's stock worth $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. First Trust Advisors LP increased its holdings in T. Rowe Price Group by 126.5% during the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager's stock worth $335,894,000 after purchasing an additional 1,832,231 shares during the period. Norges Bank bought a new stake in T. Rowe Price Group during the 4th quarter valued at $128,283,000. PFA Pension Forsikringsaktieselskab bought a new stake in T. Rowe Price Group during the 4th quarter valued at $61,073,000. Finally, Caisse de depot et placement du Quebec lifted its holdings in shares of T. Rowe Price Group by 81.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager's stock worth $134,142,000 after buying an additional 584,949 shares during the period. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $107.99 on Tuesday. The company has a market capitalization of $23.14 billion, a PE ratio of 11.57, a P/E/G ratio of 5.51 and a beta of 1.50. The company has a 50-day simple moving average of $102.94 and a two-hundred day simple moving average of $99.88. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year 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, beating analysts' consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company's revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $2.23 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group's dividend payout ratio (DPR) is 55.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TROW shares. Jefferies Financial Group cut their price target on T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a research note on Wednesday, April 8th. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating for the company in a research note on Friday, April 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Evercore raised their target price on shares of T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Finally, Barclays boosted their price target on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a report on Friday, May 1st. Eleven research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $100.08.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company's stock, valued at approximately $8,603,040.48. The trade was a 3.45% 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 the SEC website. Corporate insiders own 1.60% of the company's stock.

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.

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