Assenagon Asset Management S.A. Increases Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Assenagon Asset Management S.A. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,803.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 70,533 shares of the asset manager’s stock after acquiring an additional 66,828 shares during the quarter. Assenagon Asset Management S.A.’s holdings in T. Rowe Price Group were worth $7,977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. International Assets Investment Management LLC raised its stake in T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after acquiring an additional 1,054,461 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after purchasing an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares during the period. Finally, Franklin Resources Inc. grew its position in T. Rowe Price Group by 45.1% in the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock valued at $53,760,000 after buying an additional 152,430 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays decreased their price target on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Morgan Stanley upped their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average price target of $115.82.

T. Rowe Price Group Stock Up 1.0 %

Shares of TROW opened at $113.21 on Monday. The company’s fifty day moving average is $117.71 and its two-hundred day moving average is $112.84. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The firm has a market cap of $25.15 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.17 EPS. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.38%. T. Rowe Price Group’s payout ratio is currently 54.27%.

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.