NEOS Investment Management LLC Raises Stock Holdings in T. Rowe Price Group, Inc. $TROW

NEOS Investment Management LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 42.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 24,520 shares of the asset manager’s stock after acquiring an additional 7,358 shares during the period. NEOS Investment Management LLC’s holdings in T. Rowe Price Group were worth $2,517,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. First Trust Advisors LP lifted its position in shares of T. Rowe Price Group by 137.7% during the second quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock worth $332,101,000 after purchasing an additional 1,993,920 shares during the last quarter. Norges Bank purchased a new position in T. Rowe Price Group in the 2nd quarter worth about $82,756,000. ARGA Investment Management LP lifted its holdings in T. Rowe Price Group by 3,807.3% during the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after buying an additional 464,949 shares in the last quarter. ProShare Advisors LLC boosted its position in T. Rowe Price Group by 21.7% in the 2nd quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock valued at $182,186,000 after buying an additional 337,112 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in T. Rowe Price Group by 160.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 506,588 shares of the asset manager’s stock worth $48,886,000 after acquiring an additional 311,987 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $94.36 on Friday. The stock’s 50-day moving average is $102.57 and its 200 day moving average is $103.78. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $118.22. The company has a market cap of $20.58 billion, a P/E ratio of 10.20, a PEG ratio of 4.90 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the company posted $2.12 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.5%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s payout ratio is 54.92%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TROW shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. TD Cowen decreased their target price on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a research report on Thursday, February 5th. BMO Capital Markets decreased their price objective on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Finally, Morgan Stanley dropped their target price on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 10th. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average price target of $102.23.

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.