National Pension Service Grows Stock Position in T. Rowe Price Group, Inc. $TROW

National Pension Service grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 453,005 shares of the asset manager’s stock after purchasing an additional 29,678 shares during the quarter. National Pension Service’s holdings in T. Rowe Price Group were worth $46,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its position in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $31,000. Sound Income Strategies LLC increased its position in shares of T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 189 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in shares of T. Rowe Price Group by 92.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $104.53 on Monday. The firm has a 50 day moving average of $97.35 and a 200 day moving average of $99.22. The firm has a market capitalization of $22.40 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 5.35 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the firm posted $2.23 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.63 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on TROW shares. TD Cowen upped their price target on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, May 1st. 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 for the company in a report on Friday, April 24th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Jefferies Financial Group reduced their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. Finally, BMO Capital Markets increased their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group 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.