Assenagon Asset Management S.A. Buys 209,616 Shares of T. Rowe Price Group, Inc. $TROW

Assenagon Asset Management S.A. boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2,687.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,417 shares of the asset manager’s stock after acquiring an additional 209,616 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of T. Rowe Price Group worth $22,316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its holdings in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings in T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group in the second quarter valued at about $35,000. Curio Wealth LLC grew its stake in T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after buying an additional 414 shares during the last quarter. Finally, Cromwell Holdings LLC increased its holdings in shares of T. Rowe Price Group by 3,483.3% during the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock worth $41,000 after buying an additional 418 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Keefe, Bruyette & Woods dropped their price target on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a report on Tuesday. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research report on Tuesday, November 25th. Barclays increased their target price on T. Rowe Price Group from $101.00 to $102.00 and gave the stock an “underweight” rating in a report on Friday, December 12th. Finally, Morgan Stanley lifted their price target on T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday. Twelve analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $108.31.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $103.28 on Friday. The stock has a market capitalization of $22.54 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 3.40 and a beta of 1.53. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.32. The stock has a fifty day moving average of $102.95 and a 200-day moving average of $102.74.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.57 earnings per share. Equities research analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.34%.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group 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.