Assenagon Asset Management S.A. Has $3.36 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Assenagon Asset Management S.A. decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 88.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 37,300 shares of the asset manager’s stock after selling 275,468 shares during the quarter. Assenagon Asset Management S.A.’s holdings in T. Rowe Price Group were worth $3,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TROW. TD Private Client Wealth LLC increased its holdings in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. Sound Income Strategies LLC grew its position in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares during the last quarter. Finally, DV Equities LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth $32,000. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction 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 approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $113.69 on Wednesday. The company has a market capitalization of $24.36 billion, a PE ratio of 12.19, a P/E/G ratio of 5.81 and a beta of 1.50. The company has a 50 day simple moving average of $104.65 and a two-hundred day simple moving average of $100.06. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping 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 firm 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 company earned $2.23 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts predict that T. Rowe Price Group, Inc. will post 9.69 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a $1.30 dividend. The ex-dividend date was Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.6%. T. Rowe Price Group’s payout ratio is presently 55.73%.

Analyst Ratings Changes

TROW has been the subject of several research reports. Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. Jefferies Financial Group reduced their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Evercore raised their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a research note on Monday, June 8th. Finally, BMO Capital Markets lifted their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Eleven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $100.54.

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.