Tower Research Capital LLC TRC Has $3.28 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Tower Research Capital LLC TRC lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 117.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,437 shares of the asset manager’s stock after buying an additional 16,409 shares during the period. Tower Research Capital LLC TRC’s holdings in T. Rowe Price Group were worth $3,278,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. L. Roy Papp & Associates LLP raised its holdings in shares of T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after buying an additional 8,773 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of T. Rowe Price Group by 15.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock worth $37,141,000 after buying an additional 47,043 shares in the last quarter. Nordea Investment Management AB grew its position in T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after acquiring an additional 10,680 shares during the last quarter. Vest Financial LLC grew its position in T. Rowe Price Group by 48.8% during the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after acquiring an additional 92,059 shares during the last quarter. Finally, Certuity LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth approximately $228,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Price Performance

TROW opened at $115.55 on Friday. The business’s 50-day moving average price is $114.59 and its two-hundred day moving average price is $110.92. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The company has a market capitalization of $25.80 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.99 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the business posted $1.69 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TROW shares. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Finally, Citigroup increased their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $112.10.

Read Our Latest Research Report on TROW

T. Rowe Price Group Company Profile

(Free Report)

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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