T. Rowe Price Group, Inc. $TROW Shares Purchased by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P increased its stake in T. Rowe Price Group by 72.6%, now holding a total of 8,042 shares valued at $739,000.
• Several brokerages have raised target prices for T. Rowe Price Group, with reports recommending a range of $95.00 to $116.00 and giving mixed ratings from "Hold" to "Underweight."
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, reflecting an annual yield of 4.7% and a payout ratio of 56.76%.

Martingale Asset Management L P grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 72.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,042 shares of the asset manager's stock after purchasing an additional 3,383 shares during the quarter. Martingale Asset Management L P's holdings in T. Rowe Price Group were worth $739,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TROW. Invesco Ltd. grew its stake in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after acquiring an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock valued at $707,973,000 after acquiring an additional 519,075 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in T. Rowe Price Group by 28.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock valued at $199,367,000 after acquiring an additional 387,604 shares during the period. GAMMA Investing LLC grew its stake in T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after acquiring an additional 329,761 shares during the period. Finally, Vanguard Group Inc. grew its stake in T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock valued at $2,414,931,000 after acquiring an additional 222,556 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction dated 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 transaction, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TROW. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Evercore ISI lifted their target price on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a research note on Monday, August 4th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Finally, 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 note on Monday, August 4th. Eight investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $101.09.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded up $0.81 during trading on Wednesday, hitting $109.37. 933,594 shares of the company were exchanged, compared to its average volume of 1,464,928. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company has a fifty day moving average price of $103.09 and a 200-day moving average price of $97.56. The firm has a market capitalization of $24.03 billion, a PE ratio of 12.22, a P/E/G ratio of 2.83 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.26 EPS. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group's payout ratio is currently 56.76%.

T. Rowe Price Group Company 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.