Assenagon Asset Management S.A. Increases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Assenagon Asset Management S.A. increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 71.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,578 shares of the asset manager's stock after purchasing an additional 50,045 shares during the period. Assenagon Asset Management S.A. owned approximately 0.05% of T. Rowe Price Group worth $11,078,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TROW. Addison Advisors LLC raised its position in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after buying an additional 93 shares during the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth about $27,000. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth about $32,000. Advantage Trust Co raised its position in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after buying an additional 100 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new position in T. Rowe Price Group in the 4th quarter worth about $42,000. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 3.2%

NASDAQ:TROW traded down $3.00 during trading hours on Friday, hitting $91.58. The company had a trading volume of 1,195,694 shares, compared to its average volume of 1,506,911. The company has a 50-day moving average of $91.66 and a 200 day moving average of $102.59. The company has a market cap of $20.18 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. 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 prior year, the company posted $2.38 EPS. The company's quarterly revenue was up .8% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.55%. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TROW shares. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Bank of America reduced their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Evercore ISI cut their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of "Hold" and a consensus price target of $94.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president now directly owns 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,923 shares of company stock worth $646,856 in the last quarter. 2.00% of the stock is owned by company insiders.

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.