CX Institutional Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

CX Institutional bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 620 shares of the asset manager’s stock, valued at approximately $57,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in T. Rowe Price Group in the fourth quarter valued at $117,704,000. Marshall Wace LLP acquired a new position in T. Rowe Price Group during the 4th quarter valued at about $63,284,000. Fayez Sarofim & Co lifted its holdings in T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after buying an additional 425,142 shares during the period. Amundi lifted its stake in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock worth $199,367,000 after buying an additional 387,604 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TROW shares. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research note on Monday, April 14th. Evercore ISI decreased their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, April 11th. TD Cowen reduced their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Finally, Cowen reiterated a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average target price of $94.09.

T. Rowe Price Group Stock Down 1.7%

NASDAQ TROW opened at $91.58 on Wednesday. The company has a market capitalization of $20.18 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 3.03 and a beta of 1.49. The stock has a fifty day simple moving average of $91.94 and a 200 day simple moving average of $102.00. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.38 earnings per share. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.55%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 57.60%.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,923 shares of company stock valued at $646,856. 1.60% of the stock is owned by insiders.

About T. Rowe Price Group

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.