OP Asset Management Ltd Purchases New Holdings in T. Rowe Price Group, Inc. $TROW

OP Asset Management Ltd acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,915 shares of the asset manager’s stock, valued at approximately $2,066,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Woodline Partners LP increased its holdings in shares of T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after purchasing an additional 5,467 shares during the period. Focus Partners Wealth lifted its holdings in shares of T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after purchasing an additional 1,250 shares during the period. EverSource Wealth Advisors LLC grew its position in T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after buying an additional 478 shares during the last quarter. Jump Financial LLC purchased a new position in T. Rowe Price Group in the 2nd quarter valued at $931,000. Finally, Daiwa Securities Group Inc. increased its stake in T. Rowe Price Group by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after buying an additional 1,703 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Evercore increased their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. Finally, The Goldman Sachs Group raised their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $100.38.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $110.27 on Monday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $118.22. The stock has a market cap of $23.63 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 5.67 and a beta of 1.50. The firm’s fifty day simple moving average is $103.94 and its 200-day simple moving average is $99.92.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.23 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.58 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

T. Rowe Price Group Company 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.