XTX Topco Ltd Invests $925,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

XTX Topco Ltd acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,018 shares of the asset manager’s stock, valued at approximately $925,000.

Several other large investors have also added to or reduced their stakes in the business. Confluence Investment Management LLC acquired a new stake in T. Rowe Price Group in the 1st quarter valued at $130,386,000. Norges Bank bought a new stake in T. Rowe Price Group during the fourth quarter worth about $80,831,000. Hsbc Holdings PLC boosted its position in T. Rowe Price Group by 66.8% during the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after purchasing an additional 306,524 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in T. Rowe Price Group by 492.3% during the first quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock valued at $39,001,000 after purchasing an additional 265,881 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in T. Rowe Price Group by 1,278.0% in the fourth quarter. Bank of Nova Scotia now owns 252,055 shares of the asset manager’s stock valued at $27,143,000 after purchasing an additional 233,763 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company initiated coverage on shares of T. Rowe Price Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $113.30.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,854 shares of company stock worth $1,443,767. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 2.0 %

Shares of NASDAQ TROW opened at $108.29 on Friday. The business’s 50 day moving average is $108.80 and its 200-day moving average is $113.28. The firm has a market cap of $24.11 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm posted $2.02 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Analysts forecast that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.58%. T. Rowe Price Group’s payout ratio is 58.91%.

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.