First Trust Advisors LP Purchases 413,317 Shares of T. Rowe Price Group, Inc. $TROW

First Trust Advisors LP raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,694,171 shares of the asset manager’s stock after acquiring an additional 413,317 shares during the quarter. First Trust Advisors LP’s holdings in T. Rowe Price Group were worth $332,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in T. Rowe Price Group by 17.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock valued at $8,088,000 after buying an additional 11,691 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of T. Rowe Price Group by 43.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock valued at $32,021,000 after buying an additional 95,351 shares during the last quarter. LBP AM SA increased its holdings in shares of T. Rowe Price Group by 23.9% during the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock worth $16,061,000 after acquiring an additional 30,226 shares during the last quarter. SVB Wealth LLC raised its stake in T. Rowe Price Group by 77.5% in the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock valued at $3,788,000 after acquiring an additional 16,155 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of T. Rowe Price Group by 1,307.4% in the fourth quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager’s stock valued at $33,377,000 after purchasing an additional 301,934 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW opened at $117.61 on Wednesday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $121.17. The company has a market capitalization of $25.20 billion, a P/E ratio of 12.61, a P/E/G ratio of 4.20 and a beta of 1.47. The stock has a fifty day moving average of $109.38 and a 200-day moving average of $101.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating 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 the consensus estimate of $1.85 billion. During the same period in the prior year, the company posted $2.23 earnings per share. T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 10.07 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. Shareholders of record on Monday, June 15th were issued a $1.30 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group’s payout ratio is currently 55.73%.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research analyst reports. Weiss Ratings raised shares of 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. 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. The Goldman Sachs Group upped their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. Finally, Evercore set a $121.00 price objective on shares of T. Rowe Price Group in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $104.50.

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 transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

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.