Chilton Investment Co. Inc. Takes $11.01 Million Position in T. Rowe Price Group, Inc. $TROW

Chilton Investment Co. Inc. purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 107,268 shares of the asset manager’s stock, valued at approximately $11,010,000.

Several other institutional investors also recently bought and sold shares of TROW. Bank of Nova Scotia raised its stake in T. Rowe Price Group by 12.9% in the third quarter. Bank of Nova Scotia now owns 58,940 shares of the asset manager’s stock worth $6,050,000 after buying an additional 6,755 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in T. Rowe Price Group by 13.3% during the third quarter. Alliancebernstein L.P. now owns 370,449 shares of the asset manager’s stock worth $38,023,000 after buying an additional 43,500 shares during the period. Ameriprise Financial Inc. boosted its position in T. Rowe Price Group by 5.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager’s stock valued at $89,614,000 after acquiring an additional 45,845 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of T. Rowe Price Group by 264.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 13,893 shares of the asset manager’s stock valued at $1,426,000 after acquiring an additional 10,086 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of T. Rowe Price Group in the 3rd quarter valued at $479,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TROW has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their price target on 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. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. JPMorgan Chase & Co. cut their target price 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. TD Cowen reduced their target price on shares of T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $101.69.

T. Rowe Price Group Trading Up 0.8%

Shares of TROW opened at $88.59 on Friday. The firm has a market cap of $19.32 billion, a PE ratio of 9.58, a P/E/G ratio of 3.71 and a beta of 1.54. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.22. The stock has a fifty day moving average price of $98.89 and a 200-day moving average price of $102.16.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the firm earned $2.12 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a dividend of $1.30 per share. The ex-dividend date is Monday, March 16th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.9%. T. Rowe Price Group’s payout ratio is presently 56.22%.

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.