T. Rowe Price Group, Inc. $TROW Shares Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 70,500 shares of the asset manager’s stock after purchasing an additional 5,400 shares during the quarter. Erste Asset Management GmbH’s holdings in T. Rowe Price Group were worth $7,369,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in T. Rowe Price Group by 17.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock valued at $8,088,000 after acquiring an additional 11,691 shares during the period. Assenagon Asset Management S.A. grew its stake in T. Rowe Price Group by 43.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock valued at $32,021,000 after acquiring an additional 95,351 shares during the period. LBP AM SA grew its stake in T. Rowe Price Group by 23.9% in the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock valued at $16,061,000 after acquiring an additional 30,226 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of T. Rowe Price Group by 32.2% during the third quarter. Illinois Municipal Retirement Fund now owns 100,907 shares of the asset manager’s stock valued at $10,357,000 after acquiring an additional 24,567 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of T. Rowe Price Group by 1,307.4% during the fourth quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager’s stock valued at $33,377,000 after acquiring an additional 301,934 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The stock was 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. The trade was a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $105.45 on Tuesday. The stock’s fifty day moving average is $99.37 and its two-hundred day moving average is $99.37. The firm has a market capitalization of $22.59 billion, a P/E ratio of 11.30, a PEG ratio of 5.42 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 EPS. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $1.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their target price on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a report on Friday, May 1st. The Goldman Sachs Group raised their price objective on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Morgan Stanley set a $105.00 price objective on T. Rowe Price Group in a report on Monday, April 27th. Finally, Barclays raised their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a report on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $100.08.

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.