Tobam Has $802,000 Stake in T. Rowe Price Group, Inc. $TROW

Tobam increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21,661.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,834 shares of the asset manager’s stock after buying an additional 7,798 shares during the period. Tobam’s holdings in T. Rowe Price Group were worth $802,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC raised its holdings in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares during the last quarter. Canton Hathaway LLC bought a new position in T. Rowe Price Group during the fourth quarter valued at about $31,000. Sound Income Strategies LLC boosted its stake in shares of T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares in the last quarter. Finally, DV Equities LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $32,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TROW shares. Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Jefferies Financial Group dropped their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Barclays upped their price objective on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $100.08.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $107.65 on Friday. The company’s fifty day simple moving average is $102.63 and its 200-day simple moving average is $99.85. The company has a market cap of $23.07 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 5.51 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22.

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

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

T. Rowe Price Group Company Profile

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.