SVB Wealth LLC Acquires 5,624 Shares of T. Rowe Price Group, Inc. $TROW

SVB Wealth LLC increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 36.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,845 shares of the asset manager’s stock after buying an additional 5,624 shares during the period. SVB Wealth LLC’s holdings in T. Rowe Price Group were worth $2,140,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP increased its holdings in shares of T. Rowe Price Group by 137.7% in the second quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock worth $332,101,000 after purchasing an additional 1,993,920 shares during the period. Norges Bank bought a new position in shares of T. Rowe Price Group during the second quarter valued at about $82,756,000. ARGA Investment Management LP lifted its stake in shares of T. Rowe Price Group by 3,807.3% in the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after acquiring an additional 464,949 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in T. Rowe Price Group during the 2nd quarter valued at about $37,722,000. Finally, ProShare Advisors LLC grew its position in T. Rowe Price Group by 21.7% during the 2nd quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock worth $182,186,000 after acquiring an additional 337,112 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TROW. Bank of America raised their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating for the company in a report on Thursday, February 5th. BMO Capital Markets boosted their price target on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a report on Tuesday, January 13th. Keefe, Bruyette & Woods dropped their price objective on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a report on Thursday, February 5th. Finally, TD Cowen decreased their target price on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $102.93.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $96.64 on Wednesday. The firm has a market cap of $21.09 billion, a P/E ratio of 10.45, a P/E/G ratio of 4.95 and a beta of 1.53. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.22. The firm has a 50-day simple moving average of $104.14 and a two-hundred day simple moving average of $104.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.36%. T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $2.12 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.4%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. T. Rowe Price Group’s payout ratio is 54.92%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

About T. Rowe Price Group

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.