T. Rowe Price Group, Inc. (TROW) Stake Increased by Comerica Securities Inc.

Comerica Securities Inc. boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,861 shares of the asset manager’s stock after buying an additional 1,074 shares during the period. Comerica Securities Inc.’s holdings in T. Rowe Price Group were worth $740,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TROW. Norges Bank purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $95,874,000. Scout Investments Inc. boosted its position in shares of T. Rowe Price Group by 448.8% in the first quarter. Scout Investments Inc. now owns 1,212,919 shares of the asset manager’s stock valued at $89,101,000 after buying an additional 991,890 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of T. Rowe Price Group by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 11,600,022 shares of the asset manager’s stock valued at $790,542,000 after buying an additional 728,477 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of T. Rowe Price Group by 2,423.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 599,917 shares of the asset manager’s stock valued at $45,160,000 after buying an additional 576,146 shares during the last quarter. Finally, Cambiar Investors LLC purchased a new position in shares of T. Rowe Price Group during the first quarter valued at about $32,614,000. Hedge funds and other institutional investors own 70.65% of the company’s stock.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Shares of T. Rowe Price Group, Inc. (TROW) traded down 0.35% during mid-day trading on Tuesday, reaching $73.77. The company’s stock had a trading volume of 110,122 shares. The company has a market capitalization of $17.80 billion, a price-to-earnings ratio of 14.45 and a beta of 1.27. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $78.95. The company’s 50 day moving average price is $71.52 and its 200-day moving average price is $71.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, April 25th. The asset manager reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by $0.02. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. T. Rowe Price Group had a net margin of 29.59% and a return on equity of 24.24%. T. Rowe Price Group’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 EPS. Analysts predict that T. Rowe Price Group, Inc. will post $5.17 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Tuesday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 44.88%.

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Several research analysts have recently issued reports on TROW shares. TheStreet upgraded T. Rowe Price Group from a “c+” rating to a “b-” rating in a research note on Friday, April 28th. Morgan Stanley restated an “underweight” rating and issued a $67.00 price objective (up from $64.00) on shares of T. Rowe Price Group in a research note on Friday, March 17th. Argus cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Deutsche Bank AG restated a “hold” rating and issued a $71.00 price objective (down from $74.00) on shares of T. Rowe Price Group in a research note on Monday, May 1st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $84.00 price objective on shares of T. Rowe Price Group in a research note on Monday, March 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $73.18.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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