Intech Investment Management LLC Invests $1.08 Million in T. Rowe Price Group, Inc. $TROW

Intech Investment Management LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 10,559 shares of the asset manager’s stock, valued at approximately $1,084,000.

Other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. increased its position in T. Rowe Price Group by 66.7% during the second 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. Root Financial Partners LLC acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of 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 buying an additional 174 shares during the period. Salomon & Ludwin LLC increased its holdings in shares of T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after buying an additional 145 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $35,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on TROW. Deutsche Bank Aktiengesellschaft reduced their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Argus upgraded T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research note on Thursday, February 5th. Keefe, Bruyette & Woods dropped their target price on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a research report on Thursday, February 5th. Finally, TD Cowen reduced their price target on shares of T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $101.69.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $90.40 on Friday. The business’s 50-day moving average is $100.33 and its two-hundred day moving average is $102.79. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.22. The firm has a market capitalization of $19.71 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 4.67 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the company earned $2.12 EPS. T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared 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 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 yield of 5.8%. T. Rowe Price Group’s dividend payout ratio is presently 54.92%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the 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 completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at $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 is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Company 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.