Bank of New York Mellon Corp Has $157.37 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Bank of New York Mellon Corp decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,537,148 shares of the asset manager’s stock after selling 30,062 shares during the quarter. Bank of New York Mellon Corp’s holdings in T. Rowe Price Group were worth $157,373,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TROW. Robeco Institutional Asset Management B.V. boosted its holdings in shares of T. Rowe Price Group by 17.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock worth $8,088,000 after buying an additional 11,691 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of T. Rowe Price Group by 43.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock worth $32,021,000 after buying an additional 95,351 shares during the period. LBP AM SA boosted its holdings in shares of T. Rowe Price Group by 23.9% during the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock worth $16,061,000 after buying an additional 30,226 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of T. Rowe Price Group by 114.0% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,106 shares of the asset manager’s stock worth $2,474,000 after buying an additional 12,839 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of T. Rowe Price Group by 32.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 100,907 shares of the asset manager’s stock worth $10,357,000 after buying an additional 24,567 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group 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 transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. 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 increased their price target on shares of 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. Morgan Stanley set a $105.00 price target on shares of T. Rowe Price Group in a report on Monday, April 27th. Finally, BMO Capital Markets increased their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $99.54.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $105.99 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $118.22. The stock has a market cap of $22.71 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 5.42 and a beta of 1.50. The firm has a fifty day moving average of $99.06 and a 200-day moving average of $99.30.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the company posted $2.23 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

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

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.