Amundi Asset Management US Inc. raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% in the first quarter, HoldingsChannel.com reports. The firm owned 856,229 shares of the asset manager’s stock after purchasing an additional 29,240 shares during the quarter. Amundi Asset Management US Inc.’s holdings in T. Rowe Price Group were worth $146,928,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in TROW. OLD Mission Capital LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter valued at approximately $5,688,000. LPL Financial LLC grew its position in shares of T. Rowe Price Group by 18.3% during the 4th quarter. LPL Financial LLC now owns 79,201 shares of the asset manager’s stock worth $11,990,000 after buying an additional 12,241 shares during the period. Vantage Consulting Group Inc acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $45,000. WealthShield Partners LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $204,000. Finally, ExodusPoint Capital Management LP acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $2,875,000. 69.36% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on TROW shares. lifted their price target on shares of T. Rowe Price Group from $137.00 to $145.00 and gave the company a “sell” rating in a research report on Monday, July 12th. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $191.00 price objective on the stock. in a research note on Saturday, May 1st. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $171.00 to $185.00 and gave the company a “hold” rating in a research note on Monday, July 12th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $186.00 to $208.00 and gave the company an “equal weight” rating in a report on Friday, July 9th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $175.08.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 29th. The asset manager reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.09. T. Rowe Price Group had a return on equity of 33.97% and a net margin of 41.97%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company earned $1.87 earnings per share. T. Rowe Price Group’s revenue was up 24.9% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 12.55 EPS for the current fiscal year.
The business also recently disclosed a special dividend, which was paid on Wednesday, July 7th. Stockholders of record on Friday, June 25th were paid a $3.00 dividend. The ex-dividend date was Thursday, June 24th. This is an increase from T. Rowe Price Group’s previous special dividend of $2.00. T. Rowe Price Group’s dividend payout ratio (DPR) is 45.09%.
In related news, CEO William J. Stromberg sold 7,000 shares of the stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $195.74, for a total transaction of $1,370,180.00. Following the completion of the sale, the chief executive officer now owns 597,574 shares in the company, valued at $116,969,134.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 23,421 shares of the stock in a transaction dated Thursday, June 3rd. The stock was sold at an average price of $192.16, for a total value of $4,500,579.36. Following the sale, the vice president now owns 156,524 shares of the company’s stock, valued at approximately $30,077,651.84. The disclosure for this sale can be found here. Insiders sold 32,274 shares of company stock worth $6,228,147 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.
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.
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