SVB Wealth LLC Raises Holdings in T. Rowe Price Group, Inc. $TROW

SVB Wealth LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 29.9% during the 1st quarter, Holdings Channel reports. The firm owned 48,074 shares of the asset manager’s stock after acquiring an additional 11,074 shares during the quarter. SVB Wealth LLC’s holdings in T. Rowe Price Group were worth $4,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TROW. MTM Investment Management LLC lifted its stake in shares of T. Rowe Price Group by 3.5% during the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after buying an additional 107 shares during the period. GenTrust LLC increased its position in shares of T. Rowe Price Group by 5.5% in the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock valued at $216,000 after acquiring an additional 110 shares during the period. Fiduciary Trust Co increased its position in shares of T. Rowe Price Group by 4.5% in the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock valued at $265,000 after acquiring an additional 111 shares during the period. 1834 Investment Advisors Co. increased its position in shares of T. Rowe Price Group by 0.3% in the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock valued at $3,838,000 after acquiring an additional 115 shares during the period. Finally, Allworth Financial LP raised its stake in T. Rowe Price Group by 2.1% in the 4th quarter. Allworth Financial LP now owns 5,541 shares of the asset manager’s stock worth $567,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Evercore lifted their price target on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Barclays increased their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a report on Friday, May 1st. Morgan Stanley set a $105.00 target price on T. Rowe Price Group in a report on Monday, April 27th. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and an average price target of $100.08.

T. Rowe Price Group Price Performance

TROW opened at $107.99 on Tuesday. The firm has a fifty day moving average price of $102.94 and a 200 day moving average price of $99.88. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22. The stock has a market cap of $23.14 billion, a P/E ratio of 11.57, a P/E/G ratio of 5.51 and a beta of 1.50.

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

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s 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 in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by 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.