Anchyra Partners LLC Decreases Position in T. Rowe Price Group, Inc. $TROW

Anchyra Partners LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 462,196 shares of the asset manager’s stock after selling 6,767 shares during the period. T. Rowe Price Group accounts for about 12.6% of Anchyra Partners LLC’s portfolio, making the stock its biggest position. Anchyra Partners LLC’s holdings in T. Rowe Price Group were worth $41,662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TROW. Goldman Sachs Group Inc. grew its holdings in T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the period. First Trust Advisors LP lifted its stake in shares of T. Rowe Price Group by 126.5% in the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after purchasing an additional 1,832,231 shares during the period. Norges Bank bought a new position in shares of T. Rowe Price Group in the 4th quarter worth $128,283,000. PFA Pension Forsikringsaktieselskab bought a new position in shares of T. Rowe Price Group in the 4th quarter worth $61,073,000. Finally, Caisse de depot et placement du Quebec grew its stake in shares of T. Rowe Price Group by 81.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares during the period. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TROW. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. TD Cowen boosted their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 1st. Morgan Stanley set a $105.00 target price on shares of T. Rowe Price Group in a research note on Monday, April 27th. Finally, Evercore increased their target price on shares of T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $100.08.

Insider Buying and Selling

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Up 0.3%

Shares of TROW opened at $107.99 on Tuesday. The company has a 50 day moving average of $102.94 and a 200-day moving average of $99.88. The stock has a market capitalization of $23.14 billion, a P/E ratio of 11.57, a P/E/G ratio of 5.51 and a beta of 1.50. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22.

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

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

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.