SG Americas Securities LLC Increases Position in T. Rowe Price Group, Inc. $TROW

SG Americas Securities LLC boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 923.1% during the fourth quarter, Holdings Channel reports. The fund owned 150,873 shares of the asset manager’s stock after acquiring an additional 136,127 shares during the period. SG Americas Securities LLC’s holdings in T. Rowe Price Group were worth $15,446,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Essex Bank lifted its stake in T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock worth $299,000 after purchasing an additional 100 shares during the last quarter. PFG Investments LLC increased its position in shares of T. Rowe Price Group by 4.8% during the 3rd quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock valued at $231,000 after purchasing an additional 102 shares during the last quarter. Fiduciary Trust Co raised its holdings in shares of T. Rowe Price Group by 4.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock valued at $265,000 after buying an additional 111 shares in the last quarter. Gotham Asset Management LLC raised its holdings in shares of T. Rowe Price Group by 0.3% during the 3rd quarter. Gotham Asset Management LLC now owns 36,900 shares of the asset manager’s stock valued at $3,787,000 after buying an additional 119 shares in the last quarter. Finally, Beacon Investment Advisors LLC lifted its position in T. Rowe Price Group by 1.2% in the 2nd quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock worth $986,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $88.45 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.22. The business has a 50 day simple moving average of $95.17 and a two-hundred day simple moving average of $100.78. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 3.70 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the business posted $2.12 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.9%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.22%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Evercore cut their target price on T. Rowe Price Group from $106.00 to $99.00 in a research note on Friday, March 6th. Argus raised shares of T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, February 10th. TD Cowen reduced their target price on shares of T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a research report on Thursday, February 5th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $101.69.

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.