SVB Wealth LLC Buys 16,155 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• SVB Wealth LLC increased its T. Rowe Price Group stake by 77.5% in Q4, buying 16,155 additional shares to bring its total holding to 37,000 shares worth about $3.79 million.
• T. Rowe Price reported better-than-expected quarterly results, posting EPS of $2.52 versus estimates of $2.37 and revenue of $1.86 billion, up 5.3% year over year.
• The company also announced a quarterly dividend of $1.30 per share, implying an annualized yield of 4.9%, while Wall Street’s consensus rating remains “Reduce” with an average price target of $99.54.

SVB Wealth LLC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 77.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 37,000 shares of the asset manager's stock after buying an additional 16,155 shares during the quarter. SVB Wealth LLC's holdings in T. Rowe Price Group were worth $3,788,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. PFA Pension Forsikringsaktieselskab bought a new position in T. Rowe Price Group in the 4th quarter valued at about $61,073,000. Caisse de depot et placement du Quebec boosted its holdings in shares of T. Rowe Price Group by 81.0% during the third 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 acquiring an additional 584,949 shares during the period. Anchyra Partners LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $48,012,000. Marshall Wace LLP acquired a new position in shares of T. Rowe Price Group in the third quarter valued at approximately $34,034,000. Finally, Nordea Investment Management AB increased its stake in shares of T. Rowe Price Group by 1,307.4% during the fourth quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager's stock worth $33,377,000 after purchasing an additional 301,934 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $105.33 on Monday. The stock has a market cap of $22.57 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 4.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22. The stock has a 50 day simple moving average of $93.48 and a 200 day simple moving average of $99.20.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $2.23 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 9.61 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $1.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 55.73%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Argus raised T. Rowe Price Group to a "hold" rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of T. Rowe Price Group in a report on Friday. Bank of America lifted their target price on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Zacks Research cut shares of T. Rowe Price Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a research note on Friday, April 24th. Ten research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and an average price target of $99.54.

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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