Teza Capital Management LLC Makes New $409,000 Investment in T. Rowe Price Group, Inc. $TROW

Key Points

• Teza Capital Management LLC invested approximately $409,000 in T. Rowe Price Group, acquiring 4,454 shares, marking a significant new position by the firm in Q1.
Deutsche Bank AG and Jefferies Financial Group Inc., have also increased their stakes in T. Rowe Price Group, reflecting growing interest from major investors.
• Analysts have raised their target prices for T. Rowe Price Group; however, the company has a consensus rating of "Reduce" with an average target price of $101.55.

Teza Capital Management LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,454 shares of the asset manager's stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its holdings in T. Rowe Price Group by 4.2% in the fourth quarter. Cetera Investment Advisers now owns 48,865 shares of the asset manager's stock valued at $5,526,000 after purchasing an additional 1,948 shares during the last quarter. Deutsche Bank AG boosted its holdings in T. Rowe Price Group by 13.0% in the fourth quarter. Deutsche Bank AG now owns 1,006,698 shares of the asset manager's stock valued at $113,847,000 after purchasing an additional 115,422 shares during the last quarter. Fiduciary Trust Co boosted its holdings in T. Rowe Price Group by 16.3% in the fourth quarter. Fiduciary Trust Co now owns 3,468 shares of the asset manager's stock valued at $392,000 after purchasing an additional 485 shares during the last quarter. Gen Wealth Partners Inc boosted its holdings in T. Rowe Price Group by 3.1% in the fourth quarter. Gen Wealth Partners Inc now owns 4,651 shares of the asset manager's stock valued at $526,000 after purchasing an additional 139 shares during the last quarter. Finally, Jefferies Financial Group Inc. boosted its holdings in T. Rowe Price Group by 94.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 22,880 shares of the asset manager's stock valued at $2,587,000 after purchasing an additional 11,142 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TROW shares. Morgan Stanley increased 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 note on Monday, August 4th. JPMorgan Chase & Co. increased 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 note on Monday, August 4th. 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, August 4th. Evercore ISI increased their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "in-line" rating in a research note on Friday. Finally, Wells Fargo & Company increased 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 note on Friday, July 11th. Eight analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of "Reduce" and an average target price of $101.55.

T. Rowe Price Group Trading Down 3.0%

Shares of T. Rowe Price Group stock opened at $108.16 on Monday. The firm has a market capitalization of $23.76 billion, a PE ratio of 12.08, a P/E/G ratio of 2.82 and a beta of 1.51. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The firm's 50-day moving average price is $104.94 and its 200 day moving average price is $97.40.

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 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion for 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 quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $2.26 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.76%.

Insiders Place Their Bets

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president directly owned 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.

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.

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