T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 71.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,578 shares of the asset manager’s stock after acquiring an additional 50,045 shares during the period. Assenagon Asset Management S.A. owned about 0.05% of T. Rowe Price Group worth $11,078,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after acquiring an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares in the last quarter. Fayez Sarofim & Co lifted its stake in T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after acquiring an additional 425,142 shares in the last quarter. Geode Capital Management LLC lifted its stake in T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after acquiring an additional 116,231 shares in the last quarter. Finally, Provident Trust Co. lifted its stake in T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after acquiring an additional 213,566 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TROW shares. TD Cowen reduced their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Bank of America reduced their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, Evercore ISI reduced their price target on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday, April 11th. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $94.09.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,923 shares of company stock valued at $646,856 in the last three months. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Price Performance

TROW opened at $91.58 on Friday. The business has a 50 day simple moving average of $91.66 and a 200-day simple moving average of $102.59. The stock has a market capitalization of $20.18 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $2.38 EPS. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. T. Rowe Price Group’s dividend payout ratio is currently 57.60%.

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.