Erste Asset Management GmbH Increases Stake in T. Rowe Price Group, Inc. $TROW

Erste Asset Management GmbH lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,500 shares of the asset manager’s stock after purchasing an additional 5,400 shares during the quarter. Erste Asset Management GmbH’s holdings in T. Rowe Price Group were worth $7,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TROW. TD Private Client Wealth LLC raised its position in shares of T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares during the period. Canton Hathaway LLC acquired a new position in T. Rowe Price Group in the 4th quarter worth approximately $31,000. Sound Income Strategies LLC increased its holdings in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in T. Rowe Price Group by 92.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after buying an additional 185 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on TROW. The Goldman Sachs Group increased their price target on shares of T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Barclays increased their price target on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Keefe, Bruyette & Woods increased 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 report on Friday, May 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $100.08.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were 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. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $105.45 on Tuesday. The stock has a market capitalization of $22.59 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 5.42 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22. The firm’s 50 day simple moving average is $99.37 and its 200-day simple moving average is $99.37.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion for 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 was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $2.23 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company 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 dividend of $1.30 per share. The ex-dividend date of this dividend 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 (DPR) is presently 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.