Y Intercept Hong Kong Ltd Acquires New Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Y Intercept Hong Kong Ltd bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 41,820 shares of the asset manager's stock, valued at approximately $3,842,000.

Other large investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its stake in 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 worth $34,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in T. Rowe Price Group in the first quarter worth about $39,000. Chilton Capital Management LLC purchased a new stake in T. Rowe Price Group in the first quarter worth about $41,000. Ameriflex Group Inc. purchased a new stake in T. Rowe Price Group in the fourth quarter worth about $42,000. Finally, Wayfinding Financial LLC purchased a new stake in T. Rowe Price Group in the first quarter worth about $43,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays upped their price objective on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 16th. Citigroup lowered their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Morgan Stanley increased their price target on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $96.64.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction on 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 sale, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider directly owned 13,611 shares of the company's stock, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded down $1.20 during midday trading on Friday, reaching $106.36. 504,941 shares of the company's stock traded hands, compared to its average volume of 1,827,308. 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 market cap of $23.43 billion, a P/E ratio of 12.03, a PEG ratio of 3.19 and a beta of 1.49. The company has a fifty day simple moving average of $97.37 and a two-hundred day simple moving average of $98.72.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm posted $2.38 EPS. The business's revenue was up .8% on a year-over-year basis. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $1.27 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 4.78%. T. Rowe Price Group's payout ratio is currently 57.60%.

About T. Rowe Price Group

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.