Squarepoint Ops LLC Increases Holdings in T. Rowe Price Group, Inc. $TROW

Squarepoint Ops LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,529,520 shares of the asset manager’s stock after acquiring an additional 237,070 shares during the quarter. Squarepoint Ops LLC’s holdings in T. Rowe Price Group were worth $173,891,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its holdings in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares in the last quarter. DV Equities LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $32,000. Bank & Trust Co raised its holdings in shares of T. Rowe Price Group by 52.4% in the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 108 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $35,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the transaction, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $109.42 on Wednesday. The stock has a 50-day moving average of $114.46 and a two-hundred day moving average of $104.17. The stock has a market cap of $23.34 billion, a P/E ratio of 10.97, a P/E/G ratio of 3.63 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company earned $2.24 EPS. T. Rowe Price Group’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 10.16 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent research reports. Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. BMO Capital Markets upped their price objective on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Evercore set a $118.00 price objective on T. Rowe Price Group in a research report on Monday, August 10th. TD Cowen lifted their target price on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “hold” rating in a research note on Monday, August 31st. Finally, UBS Group set a $110.00 target price on shares of T. Rowe Price Group in a report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $106.15.

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.