T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Lifted by PARK CIRCLE Co

Key Points

• PARK CIRCLE Co increased its stake in T. Rowe Price Group by 20.2%, now holding approximately 64,345 shares valued at $5,911,000.
• Institutional investors and hedge funds own about 73.39% of T. Rowe Price Group’s stock, indicating strong institutional interest in the company.
• The company reported a quarterly EPS of $2.24, surpassing the consensus estimate of $2.15, but revenue was down 0.6% compared to the previous year.

PARK CIRCLE Co boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 20.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,345 shares of the asset manager's stock after acquiring an additional 10,800 shares during the period. T. Rowe Price Group comprises approximately 5.2% of PARK CIRCLE Co's portfolio, making the stock its 6th largest position. PARK CIRCLE Co's holdings in T. Rowe Price Group were worth $5,911,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after purchasing an additional 212 shares during the last quarter. Wealthfront Advisers LLC increased its stake in T. Rowe Price Group by 109.2% in the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock valued at $6,369,000 after purchasing an additional 36,190 shares during the period. Mather Group LLC. increased its stake in T. Rowe Price Group by 11.9% in the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after purchasing an additional 14,371 shares during the period. GAMMA Investing LLC raised its position in T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after buying an additional 329,761 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of T. Rowe Price Group by 12.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock worth $19,575,000 after acquiring an additional 24,323 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on TROW. The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Barclays reissued an "underweight" rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Monday. Finally, TD Cowen decreased their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Hold" and a consensus target price of $101.09.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $105.42 on Thursday. The firm's 50-day simple moving average is $99.07 and its 200-day simple moving average is $98.27. 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 market cap of $23.16 billion, a P/E ratio of 11.78, a PEG ratio of 2.87 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 earnings per share. Analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the business'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 owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was 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 $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

About T. Rowe Price Group

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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