T. Rowe Price Group, Inc. $TROW Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 43.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 312,768 shares of the asset manager’s stock after acquiring an additional 95,351 shares during the quarter. Assenagon Asset Management S.A. owned about 0.14% of T. Rowe Price Group worth $32,021,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. TD Waterhouse Canada Inc. increased its stake in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the period. Root Financial Partners LLC purchased a new position in T. Rowe Price Group in the 3rd quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC boosted its position in T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after buying an additional 174 shares during the last quarter. Salomon & Ludwin LLC grew its stake in shares of T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of T. Rowe Price Group during the third quarter worth about $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of a number of analyst reports. BMO Capital Markets reduced their price target on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Morgan Stanley cut their target price on T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 10th. Bank of America increased their target price on T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. Argus raised shares of T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $101.69.

T. Rowe Price Group Trading Up 0.9%

Shares of TROW opened at $89.58 on Thursday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.22. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 3.72 and a beta of 1.54. The stock has a 50 day moving average of $95.88 and a 200-day moving average of $101.04.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The business’s 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. On average, sell-side analysts predict 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a $1.30 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.22%.

About T. Rowe Price Group

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.