Ghe LLC Has $2.71 Million Holdings in T. Rowe Price Group, Inc. $TROW

Ghe LLC lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 60.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,116 shares of the asset manager’s stock after acquiring an additional 11,308 shares during the quarter. T. Rowe Price Group makes up about 0.6% of Ghe LLC’s holdings, making the stock its 18th biggest holding. Ghe LLC’s holdings in T. Rowe Price Group were worth $2,715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of T. Rowe Price Group by 17.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock worth $8,088,000 after purchasing an additional 11,691 shares during the period. Assenagon Asset Management S.A. increased its stake in T. Rowe Price Group by 43.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock valued at $32,021,000 after buying an additional 95,351 shares during the period. LBP AM SA lifted its position in T. Rowe Price Group by 23.9% in the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock worth $16,061,000 after buying an additional 30,226 shares in the last quarter. SVB Wealth LLC boosted its stake in shares of T. Rowe Price Group by 77.5% during the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock valued at $3,788,000 after buying an additional 16,155 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of T. Rowe Price Group by 1,307.4% during the 4th quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager’s stock valued at $33,377,000 after acquiring an additional 301,934 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

TROW opened at $118.55 on Monday. The company has a market cap of $25.40 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 4.62 and a beta of 1.47. The stock has a 50-day moving average of $107.60 and a 200-day moving average of $100.85. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $121.17.

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. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $2.23 EPS. On average, research analysts predict that T. Rowe Price Group, Inc. will post 9.89 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.73%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley increased their price objective on T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, BMO Capital Markets raised their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $101.83.

Insider Transactions at T. Rowe Price Group

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

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.