ExodusPoint Capital Management LP Takes $687,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

ExodusPoint Capital Management LP acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,539 shares of the asset manager’s stock, valued at approximately $687,000.

A number of other institutional investors also recently bought and sold shares of TROW. CX Institutional increased its position in T. Rowe Price Group by 7.4% in the 3rd quarter. CX Institutional now owns 2,175 shares of the asset manager’s stock valued at $228,000 after acquiring an additional 150 shares during the period. Wedbush Securities Inc. increased its holdings in shares of T. Rowe Price Group by 8.3% in the third quarter. Wedbush Securities Inc. now owns 3,878 shares of the asset manager’s stock valued at $407,000 after purchasing an additional 298 shares during the period. Xponance Inc. raised its stake in shares of T. Rowe Price Group by 14.9% during the third quarter. Xponance Inc. now owns 23,806 shares of the asset manager’s stock worth $2,500,000 after purchasing an additional 3,086 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of T. Rowe Price Group by 12.1% during the third quarter. Bank of Montreal Can now owns 498,482 shares of the asset manager’s stock worth $55,771,000 after purchasing an additional 53,834 shares during the period. Finally, Carolinas Wealth Consulting LLC grew its position in T. Rowe Price Group by 1,646.5% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 7,178 shares of the asset manager’s stock valued at $53,000 after buying an additional 6,767 shares during the last quarter. 76.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $114.52, for a total transaction of $1,370,689.88. Following the sale, the vice president now directly owns 129,436 shares of the company’s stock, valued at approximately $14,823,010.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $114.52, for a total value of $1,370,689.88. Following the transaction, the vice president now owns 129,436 shares in the company, valued at $14,823,010.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew C. Mccormick sold 14,154 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $116.73, for a total transaction of $1,652,196.42. Following the sale, the vice president now owns 70,319 shares of the company’s stock, valued at $8,208,336.87. The disclosure for this sale can be found here. Insiders sold a total of 32,742 shares of company stock valued at $3,820,343 over the last three months. 1.00% of the stock is currently owned by insiders.

T. Rowe Price Group Trading Down 2.2 %

Shares of NASDAQ TROW opened at $110.16 on Monday. The company’s 50-day moving average price is $115.78 and its 200 day moving average price is $115.83. T. Rowe Price Group, Inc. has a 52 week low of $93.53 and a 52 week high of $157.77. The stock has a market cap of $24.72 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.77 and a beta of 1.28.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The asset manager reported $1.74 EPS for the quarter, beating the consensus estimate of $1.72 by $0.02. T. Rowe Price Group had a net margin of 24.01% and a return on equity of 20.36%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned $3.17 earnings per share. The company’s quarterly revenue was down 21.4% on a year-over-year basis. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 6.64 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Wednesday, March 15th will be given a dividend of $1.22 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $4.88 annualized dividend and a yield of 4.43%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 71.75%.

Analyst Ratings Changes

A number of brokerages have commented on TROW. Morgan Stanley cut their price objective on shares of T. Rowe Price Group from $108.00 to $102.00 and set an “equal weight” rating for the company in a research report on Monday, January 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on T. Rowe Price Group from $121.00 to $113.00 and set a “hold” rating on the stock in a report on Friday, January 27th. Credit Suisse Group cut their target price on T. Rowe Price Group from $70.00 to $65.00 and set an “underperform” rating for the company in a research note on Friday, January 27th. BMO Capital Markets decreased their price target on T. Rowe Price Group from $105.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 27th. Finally, Wells Fargo & Company cut their price objective on T. Rowe Price Group from $120.00 to $112.00 and set an “equal weight” rating for the company in a research report on Friday, January 27th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.30.

About T. Rowe Price Group

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T. Rowe Price Group, Inc is a global investment management organization, which engages in the provision of investment management services. The firm provides an array of mutual funds, sub advisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries.