Bessemer Group Inc. Lowers Stake in T. Rowe Price Group, Inc. $TROW

Bessemer Group Inc. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 78.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,048 shares of the asset manager’s stock after selling 18,074 shares during the quarter. Bessemer Group Inc.’s holdings in T. Rowe Price Group were worth $519,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of T. Rowe Price Group by 137.7% in the 2nd quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock worth $332,101,000 after buying an additional 1,993,920 shares during the last quarter. Norges Bank bought a new stake in T. Rowe Price Group in the second quarter worth $82,756,000. ARGA Investment Management LP increased its holdings in shares of T. Rowe Price Group by 3,807.3% during the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after acquiring an additional 464,949 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of T. Rowe Price Group in the 2nd quarter worth about $37,722,000. Finally, ProShare Advisors LLC grew its position in T. Rowe Price Group by 21.7% during the 2nd quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock valued at $182,186,000 after purchasing an additional 337,112 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting T. Rowe Price Group

Here are the key news stories impacting T. Rowe Price Group this week:

Analyst Upgrades and Downgrades

TROW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a report on Thursday, February 5th. TD Cowen decreased their price target on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. Citigroup increased their price objective on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Keefe, Bruyette & Woods reduced their price objective on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $102.93.

Check Out Our Latest Stock Report on TROW

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 2.9%

Shares of NASDAQ:TROW opened at $93.79 on Thursday. The stock has a market capitalization of $20.47 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 4.99 and a beta of 1.53. The firm’s 50 day moving average price is $103.91 and its 200-day moving average price is $104.19. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $118.22.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.36%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share. Analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.5%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.22%.

About T. Rowe Price Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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