Capricorn Fund Managers Ltd Makes New Investment in T. Rowe Price Group, Inc. $TROW

Capricorn Fund Managers Ltd purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the first quarter, Holdings Channel reports. The fund purchased 83,475 shares of the asset manager’s stock, valued at approximately $7,524,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MTM Investment Management LLC grew its position in T. Rowe Price Group by 3.5% in the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after acquiring an additional 107 shares in the last quarter. GenTrust LLC raised its position in T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock valued at $216,000 after purchasing an additional 110 shares in the last quarter. Fiduciary Trust Co raised its position in T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock valued at $265,000 after purchasing an additional 111 shares in the last quarter. 1834 Investment Advisors Co. lifted its stake in T. Rowe Price Group by 0.3% during the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock worth $3,838,000 after purchasing an additional 115 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in T. Rowe Price Group by 2.1% during the fourth quarter. Allworth Financial LP now owns 5,541 shares of the asset manager’s stock worth $567,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of several recent research reports. Jefferies Financial Group reduced their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. The Goldman Sachs Group boosted their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday. Barclays upped their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research note on Friday, May 1st. 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 research report on Friday, May 1st. Finally, Evercore lifted their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a research note on Monday, June 8th. Eleven investment 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 presently has an average rating of “Reduce” and an average target price of $100.54.

T. Rowe Price Group Price Performance

TROW opened at $113.69 on Wednesday. The stock’s 50 day simple moving average is $104.65 and its 200 day simple moving average is $100.06. The firm has a market cap of $24.36 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 5.81 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22.

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 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 the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.23 earnings per share. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.73%.

Insider Buying and Selling

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

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.