Trexquant Investment LP Invests $2.92 Million in T. Rowe Price Group Inc (NASDAQ:TROW) Stock

Trexquant Investment LP acquired a new position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 29,178 shares of the asset manager’s stock, valued at approximately $2,921,000.

A number of other hedge funds also recently modified their holdings of TROW. Oregon Public Employees Retirement Fund lifted its position in T. Rowe Price Group by 5,160.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,804,712 shares of the asset manager’s stock worth $63,000 after acquiring an additional 5,694,370 shares during the last quarter. Norges Bank acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $216,223,000. APG Asset Management N.V. lifted its position in T. Rowe Price Group by 112.3% during the fourth quarter. APG Asset Management N.V. now owns 1,064,185 shares of the asset manager’s stock worth $85,943,000 after acquiring an additional 562,900 shares during the last quarter. Check Capital Management Inc. CA acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $42,742,000. Finally, Vanguard Group Inc lifted its position in T. Rowe Price Group by 2.2% during the third quarter. Vanguard Group Inc now owns 21,212,245 shares of the asset manager’s stock worth $2,315,952,000 after acquiring an additional 457,683 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Shares of NASDAQ TROW traded down $1.40 during midday trading on Wednesday, reaching $105.27. The company’s stock had a trading volume of 21,782 shares, compared to its average volume of 1,281,453. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.03. T. Rowe Price Group Inc has a fifty-two week low of $84.59 and a fifty-two week high of $127.05. The company has a market cap of $25.30 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.56 and a beta of 1.05.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, April 24th. The asset manager reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.26. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group Inc will post 7.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.76 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.89%. T. Rowe Price Group’s payout ratio is 42.52%.

In other news, insider Edward C. Bernard sold 20,000 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $107.92, for a total value of $2,158,400.00. Following the completion of the sale, the insider now directly owns 649,135 shares in the company, valued at $70,054,649.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Scott B. David sold 45,118 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $107.88, for a total transaction of $4,867,329.84. Following the completion of the sale, the vice president now owns 48,454 shares of the company’s stock, valued at $5,227,217.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,618 shares of company stock valued at $7,400,440. 3.10% of the stock is owned by company insiders.

Several brokerages have issued reports on TROW. BidaskClub upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Gabelli restated a “buy” rating on shares of T. Rowe Price Group in a research report on Thursday, April 25th. Barclays raised their price objective on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research report on Thursday, April 25th. Citigroup raised their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, Bank of America set a $112.00 price objective on shares of T. Rowe Price Group and gave the stock a “buy” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $106.75.

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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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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