Gamco Investors INC. ET AL raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 44.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,210 shares of the asset manager’s stock after acquiring an additional 13,850 shares during the quarter. Gamco Investors INC. ET AL’s holdings in T. Rowe Price Group were worth $4,075,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after buying an additional 6,740,172 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of T. Rowe Price Group by 126.5% in the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after acquiring an additional 1,832,231 shares during the last quarter. Norges Bank bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at $128,283,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $61,073,000. Finally, Caisse de depot et placement du Quebec grew its position in T. Rowe Price Group by 81.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after acquiring an additional 584,949 shares during the last quarter. 73.39% of the stock is owned by institutional investors.
Insider Buying and Selling
In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on TROW
T. Rowe Price Group Price Performance
T. Rowe Price Group stock opened at $119.21 on Tuesday. The stock’s 50 day moving average is $110.52 and its 200 day moving average is $101.81. The firm has a market cap of $25.54 billion, a P/E ratio of 12.78, a P/E/G ratio of 4.18 and a beta of 1.47. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $121.17.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.23 EPS. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current fiscal year.
T. Rowe Price Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a $1.30 dividend. The ex-dividend date was Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.4%. T. Rowe Price Group’s payout ratio is presently 55.73%.
T. Rowe Price Group Company Profile
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.
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