6,177 Shares in T. Rowe Price Group, Inc. $TROW Purchased by Hilton Head Capital Partners LLC

Hilton Head Capital Partners LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,177 shares of the asset manager’s stock, valued at approximately $632,000.

Several other hedge funds have also recently bought and sold shares of TROW. Goldman Sachs Group Inc. lifted its stake in T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares in the last quarter. Norges Bank purchased a new stake in T. Rowe Price Group in the 4th quarter worth about $128,283,000. PFA Pension Forsikringsaktieselskab purchased a new stake in T. Rowe Price Group in the 4th quarter worth about $61,073,000. Caisse de depot et placement du Quebec lifted its stake in T. Rowe Price Group by 81.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after acquiring an additional 584,949 shares in the last quarter. Finally, Anchyra Partners LLC purchased a new stake in T. Rowe Price Group in the 4th quarter worth about $48,012,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $105.99 on Monday. The stock has a market capitalization of $22.71 billion, a P/E ratio of 11.36, a P/E/G ratio of 5.42 and a beta of 1.50. The business has a 50-day moving average of $99.06 and a two-hundred day moving average of $99.32. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business earned $2.23 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. BMO Capital Markets increased their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Barclays raised their price target on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research note on Friday, May 1st. Finally, TD Cowen boosted their price target on T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Eleven research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $99.54.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.