Rafferty Asset Management LLC Has $6.89 Million Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Rafferty Asset Management LLC reduced its stake in T. Rowe Price Group by 6.1%, selling 4,898 shares, and holds a total of 75,040 shares valued at approximately $6.89 million.
• T. Rowe Price Group reported earnings per share (EPS) of $2.24 for the last quarter, surpassing estimates and experiencing a year-over-year revenue decrease of 0.6%.
• The company has declared a quarterly dividend of $1.27, resulting in an annualized yield of 4.7%, with the ex-dividend date set for September 15th.

Rafferty Asset Management LLC decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,040 shares of the asset manager's stock after selling 4,898 shares during the period. Rafferty Asset Management LLC's holdings in T. Rowe Price Group were worth $6,894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Zions Bancorporation National Association UT acquired a new position in shares of T. Rowe Price Group in the first quarter worth about $27,000. Ameriflex Group Inc. bought a new position in T. Rowe Price Group during the fourth quarter valued at approximately $42,000. Hexagon Capital Partners LLC raised its position in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after purchasing an additional 113 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $39,000. Finally, Chilton Capital Management LLC bought a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction 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 transaction, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Down 2.3%

NASDAQ TROW traded down $2.43 on Tuesday, hitting $105.20. 723,345 shares of the company were exchanged, compared to its average volume of 1,761,936. The firm has a 50 day moving average of $103.98 and a two-hundred day moving average of $97.41. The company has a market cap of $23.11 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.81 and a beta of 1.51. 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, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.26 EPS. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.76%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TROW shares. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research report on Monday, August 4th. Barclays reaffirmed an "underweight" rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Eight analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $101.09.

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.