SG Americas Securities LLC Acquires 136,127 Shares of T. Rowe Price Group, Inc. $TROW

SG Americas Securities LLC lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 923.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,873 shares of the asset manager’s stock after purchasing an additional 136,127 shares during the period. SG Americas Securities LLC owned about 0.07% of T. Rowe Price Group worth $15,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in T. Rowe Price Group during the third quarter worth about $30,000. Salomon & Ludwin LLC raised its position in T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after acquiring an additional 145 shares during the period. Quent Capital LLC purchased a new position in T. Rowe Price Group in the third quarter valued at about $39,000. Board of the Pension Protection Fund purchased a new position in T. Rowe Price Group in the fourth quarter valued at about $41,000. Finally, Heartwood Wealth Advisors LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter valued at approximately $51,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on TROW. The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating on the stock in a report on Thursday, February 5th. BMO Capital Markets reduced their price objective on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Keefe, Bruyette & Woods lowered their target price on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Twelve analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $101.69.

T. Rowe Price Group Stock Down 2.0%

Shares of NASDAQ TROW opened at $88.45 on Friday. The stock’s 50-day simple moving average is $95.17 and its two-hundred day simple moving average is $100.78. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $118.22. The firm has a market capitalization of $19.25 billion, a P/E ratio of 9.56, a P/E/G ratio of 3.70 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business posted $2.12 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $1.30 per share. The ex-dividend date is Monday, March 16th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a yield of 5.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.22%.

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.