Caxton Associates LLP Buys Shares of 6,945 T. Rowe Price Group, Inc. $TROW

Caxton Associates LLP purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,945 shares of the asset manager’s stock, valued at approximately $626,000.

Other hedge funds have also modified their holdings of the company. Woodline Partners LP increased its stake in T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after purchasing an additional 5,467 shares during the period. Focus Partners Wealth raised its holdings in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after purchasing an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after buying an additional 478 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $931,000. Finally, Daiwa Securities Group Inc. grew its holdings in T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after buying an additional 1,703 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods raised their target price on T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, July 10th. Finally, TD Cowen dropped their price target on shares of T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating for the company in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $104.50.

T. Rowe Price Group Trading Up 2.3%

TROW stock opened at $119.21 on Tuesday. The firm has a 50-day moving average of $110.52 and a two-hundred day moving average of $101.81. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $121.17. The firm has a market capitalization of $25.54 billion, a PE ratio of 12.78, a P/E/G ratio of 4.18 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company earned $2.23 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a $1.30 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.