Susquehanna Fundamental Investments LLC Acquires New Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Susquehanna Fundamental Investments LLC bought a new stake 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 & Exchange Commission. The fund bought 137,946 shares of the asset manager’s stock, valued at approximately $15,907,000. Susquehanna Fundamental Investments LLC owned 0.06% of T. Rowe Price Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Trexquant Investment LP purchased a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $671,000. TD Asset Management Inc raised its position in T. Rowe Price Group by 6.3% in the fourth quarter. TD Asset Management Inc now owns 85,412 shares of the asset manager’s stock valued at $9,198,000 after purchasing an additional 5,068 shares during the period. Allianz Asset Management GmbH raised its position in T. Rowe Price Group by 389.2% in the fourth quarter. Allianz Asset Management GmbH now owns 145,184 shares of the asset manager’s stock valued at $15,635,000 after purchasing an additional 115,509 shares during the period. Treasurer of the State of North Carolina raised its position in T. Rowe Price Group by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 97,874 shares of the asset manager’s stock valued at $10,540,000 after purchasing an additional 960 shares during the period. Finally, TFO Wealth Partners LLC raised its position in T. Rowe Price Group by 10,863.6% in the fourth quarter. TFO Wealth Partners LLC now owns 3,618 shares of the asset manager’s stock valued at $390,000 after purchasing an additional 3,585 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. TD Cowen cut their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Wells Fargo & Company assumed coverage on T. Rowe Price Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $113.30.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on 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 completion of the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated 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 sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $109.51 on Friday. The firm has a market capitalization of $24.45 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. The business’s fifty day moving average price is $108.01 and its 200 day moving average price is $113.07. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the company earned $2.02 EPS. The business’s revenue was up 7.6% on a year-over-year basis. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.96 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.53%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

T. Rowe Price Group Company 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.