AXQ Capital LP Makes New Investment in T. Rowe Price Group, Inc. $TROW

AXQ Capital LP acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, Holdings Channel.com reports. The fund acquired 13,468 shares of the asset manager’s stock, valued at approximately $1,379,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp grew its position in T. Rowe Price Group by 6.4% in the 3rd quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager’s stock valued at $259,588,000 after buying an additional 152,451 shares during the last quarter. Dimensional Fund Advisors LP grew its position in T. Rowe Price Group by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager’s stock valued at $214,557,000 after buying an additional 64,791 shares during the last quarter. Caisse de depot et placement du Quebec grew its position in T. Rowe Price Group by 81.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after buying an additional 584,949 shares during the last quarter. Norges Bank purchased a new position in T. Rowe Price Group in the 4th quarter valued at $128,283,000. Finally, Ameriprise Financial Inc. grew its position in T. Rowe Price Group by 5.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager’s stock valued at $89,614,000 after buying an additional 45,845 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. The Goldman Sachs Group lifted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Finally, Jefferies Financial Group lowered their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Stock Down 0.6%

T. Rowe Price Group stock opened at $103.92 on Tuesday. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.22. The firm’s 50-day simple moving average is $97.69 and its 200 day simple moving average is $99.22. The firm has a market capitalization of $22.27 billion, a PE ratio of 11.14, a P/E/G ratio of 5.35 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 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 business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the firm earned $2.23 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s payout ratio is presently 55.73%.

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.