T. Rowe Price Group, Inc. $TROW Position Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 60.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,810 shares of the asset manager's stock after buying an additional 56,831 shares during the period. Assenagon Asset Management S.A. owned about 0.07% of T. Rowe Price Group worth $15,692,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wealthcare Capital Partners LLC grew its stake in T. Rowe Price Group by 1.0% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock worth $1,087,000 after acquiring an additional 93 shares in the last quarter. Kesler Norman & Wride LLC raised its stake in T. Rowe Price Group by 0.6% in the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock worth $1,809,000 after buying an additional 96 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in T. Rowe Price Group by 9.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock worth $131,000 after buying an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock worth $2,259,000 after buying an additional 100 shares during the period. Finally, Concorde Asset Management LLC lifted its holdings in T. Rowe Price Group by 3.9% during the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager's stock worth $246,000 after buying an additional 102 shares during the period. Institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent research reports. Zacks Research cut T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a research note on Tuesday, June 30th. BMO Capital Markets decreased their target price on shares of T. Rowe Price Group from $120.00 to $110.00 and set a "market perform" rating for the company in a research report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $109.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $104.08.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $100.10 on Tuesday. The firm has a 50 day simple moving average of $107.00 and a 200-day simple moving average of $106.86. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 2.85 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $2.24 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts predict that T. Rowe Price Group, Inc. will post 10.09 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Tuesday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 52.16%.

Insider Activity

In related news, VP Joshua Nelson sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president owned 71,328 shares of the company's stock, valued at $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.

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