2,808 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd has purchased 2,808 shares of T. Rowe Price Group, Inc. for approximately $258,000, marking a new investment in the asset management company.
• Institutional investors now own 73.39% of T. Rowe Price Group's stock, with other firms like Envestnet Asset Management and Federated Hermes significantly increasing their holdings in recent quarters.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, set to be paid on September 29th, yielding 4.8% annually, with a payout ratio of 56.76%.

XTX Topco Ltd bought 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 Form 13F filing with the Securities & Exchange Commission. The firm bought 2,808 shares of the asset manager's stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC grew its position in T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after purchasing an additional 212 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of T. Rowe Price Group by 109.2% during the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock valued at $6,369,000 after buying an additional 36,190 shares in the last quarter. Mather Group LLC. grew its position in 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 worth $12,455,000 after acquiring an additional 14,371 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after purchasing an additional 329,761 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in T. Rowe Price Group by 12.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock valued at $19,575,000 after buying an additional 24,323 shares during the period. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TROW has been the subject of a number of recent research reports. 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 report on Monday, August 4th. Barclays restated 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. Wells Fargo & Company raised their price target 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. Morgan Stanley raised 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 report on Monday, August 4th. Finally, Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a research note on Monday, August 4th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $101.09.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group 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 value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Down 1.6%

TROW stock traded down $1.79 during mid-day trading on Friday, hitting $107.27. The stock had a trading volume of 478,958 shares, compared to its average volume of 1,806,796. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a fifty day moving average of $100.68 and a 200 day moving average of $97.98. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 2.99 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm earned $2.26 EPS. T. Rowe Price Group's revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid 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 4.7%. T. Rowe Price Group's payout ratio is 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.