T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 39.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,791 shares of the asset manager’s stock after purchasing an additional 509 shares during the period. GAMMA Investing LLC’s holdings in T. Rowe Price Group were worth $218,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV raised its position in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares in the last quarter. First United Bank & Trust bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. Park Place Capital Corp lifted its stake in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. Fortitude Family Office LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth $33,000. Finally, CVA Family Office LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TROW. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. UBS Group lifted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Finally, Morgan Stanley raised their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $118.19 on Friday. The firm’s 50-day moving average is $114.35 and its 200-day moving average is $112.05. The company has a market cap of $26.39 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 2.01 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company posted $1.69 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts predict that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.20%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.