T. Rowe Price Group, Inc. $TROW Position Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 43.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 312,768 shares of the asset manager’s stock after purchasing an additional 95,351 shares during the quarter. Assenagon Asset Management S.A.’s holdings in T. Rowe Price Group were worth $32,021,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. increased its position in T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the period. Essex Bank boosted its holdings in shares of T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock valued at $299,000 after acquiring an additional 100 shares during the period. PFG Investments LLC grew its position in shares of T. Rowe Price Group by 4.8% during the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after acquiring an additional 102 shares during the last quarter. Fiduciary Trust Co increased its holdings in shares of T. Rowe Price Group by 4.5% in the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after acquiring an additional 111 shares during the period. Finally, Gotham Asset Management LLC increased its holdings in shares of T. Rowe Price Group by 0.3% in the 3rd quarter. Gotham Asset Management LLC now owns 36,900 shares of the asset manager’s stock worth $3,787,000 after acquiring an additional 119 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Up 0.9%

TROW stock opened at $89.58 on Thursday. The firm’s 50-day moving average is $95.88 and its two-hundred day moving average is $101.04. The company has a market capitalization of $19.49 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 3.72 and a beta of 1.54. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (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 company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business earned $2.12 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio is 56.22%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TROW shares. Keefe, Bruyette & Woods reduced their target price on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a research note on Thursday, February 5th. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Argus upgraded T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. Finally, Bank of America increased their price objective on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $101.69.

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.