Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,207 shares of the asset manager's stock after purchasing an additional 4,512 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.09% of T. Rowe Price Group worth $17,566,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its stake in shares of T. Rowe Price Group by 27.9% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after acquiring an additional 212 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after acquiring an additional 73,307 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of T. Rowe Price Group by 109.2% in the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock valued at $6,369,000 after acquiring an additional 36,190 shares in the last quarter. Mather Group LLC. raised its stake in shares of T. Rowe Price Group by 11.9% in the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after acquiring an additional 14,371 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of T. Rowe Price Group by 9,555.5% in the first 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 in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on TROW. TD Cowen reduced their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Citigroup decreased their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Finally, Evercore ISI decreased their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $96.64.
Read Our Latest Research Report on TROW
Insider Activity
In related news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider owned 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business'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 completion of 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 disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.
T. Rowe Price Group Price Performance
Shares of TROW traded down $0.63 during midday trading on Friday, reaching $106.93. 1,380,272 shares of the stock were exchanged, compared to its average volume of 1,641,296. The business's 50-day moving average price is $97.54 and its 200 day moving average price is $98.67. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market capitalization of $23.56 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 3.20 and a beta of 1.49.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the previous year, the firm earned $2.38 earnings per share. The business's revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.
T. Rowe Price Group Company Profile
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Free Report)
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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