Entropy Technologies LP Has $3.62 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Entropy Technologies LP grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 83.5% during the first quarter, Holdings Channel reports. The firm owned 40,123 shares of the asset manager’s stock after purchasing an additional 18,263 shares during the period. Entropy Technologies LP’s holdings in T. Rowe Price Group were worth $3,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TROW. TCM Advisors LLC increased its position in T. Rowe Price Group by 16.6% during the first quarter. TCM Advisors LLC now owns 9,818 shares of the asset manager’s stock worth $885,000 after buying an additional 1,400 shares during the last quarter. Bridgewater Advisors Inc. acquired a new stake in shares of T. Rowe Price Group in the first quarter worth about $254,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of T. Rowe Price Group by 18.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 271,137 shares of the asset manager’s stock worth $24,440,000 after buying an additional 42,510 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $7,788,000. Finally, Gamco Investors INC. ET AL boosted its stake in shares of T. Rowe Price Group by 44.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 45,210 shares of the asset manager’s stock worth $4,075,000 after acquiring an additional 13,850 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TROW shares. Keefe, Bruyette & Woods increased their price objective on T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, July 10th. TD Cowen reduced their target price on T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating for the company in a report on Monday, July 20th. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lowered their price target on 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. Finally, Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. 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 company. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $104.50.

T. Rowe Price Group Trading Up 1.3%

Shares of NASDAQ TROW opened at $116.50 on Friday. The firm has a market capitalization of $24.96 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 4.18 and a beta of 1.47. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $121.17. The business has a fifty day simple moving average of $110.18 and a 200 day simple moving average of $101.77.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share 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 business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.23 earnings per share. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The shares were 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 approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

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.