Jump Financial LLC Boosts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Jump Financial LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 492.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,965 shares of the asset manager's stock after buying an additional 24,077 shares during the quarter. Jump Financial LLC's holdings in T. Rowe Price Group were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager's stock valued at $97,152,000 after purchasing an additional 892,198 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of T. Rowe Price Group in the third quarter worth $21,114,000. Charles Schwab Investment Management Inc. lifted its stake in shares of T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager's stock worth $513,874,000 after buying an additional 134,839 shares during the period. Invesco Ltd. grew its holdings in shares of T. Rowe Price Group by 7.6% during the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager's stock valued at $176,607,000 after buying an additional 119,305 shares during the last quarter. Finally, OLD Republic International Corp acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $11,846,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company's stock, valued at $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the company's stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an "underperform" rating to a "market perform" rating and raised their price objective for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. TD Cowen raised shares of T. Rowe Price Group from a "sell" rating to a "hold" rating and upped their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $112.10.

T. Rowe Price Group Price Performance

NASDAQ TROW traded up $0.30 during trading hours on Friday, reaching $111.60. The company's stock had a trading volume of 1,034,435 shares, compared to its average volume of 1,668,544. The firm has a market capitalization of $24.92 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.93 and a beta of 1.40. The company's 50-day moving average is $115.14 and its two-hundred day moving average is $107.93. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.69 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 8.75 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 Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group's dividend payout ratio is presently 58.91%.

T. Rowe Price Group 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.