Blackhawk Capital Partners LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 28.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 20,232 shares of the asset manager’s stock after acquiring an additional 4,491 shares during the quarter. Blackhawk Capital Partners LLC’s holdings in T. Rowe Price Group were worth $1,824,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Oregon Public Employees Retirement Fund increased its holdings in T. Rowe Price Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after purchasing an additional 100 shares during the last quarter. MTM Investment Management LLC boosted its holdings in T. Rowe Price Group by 3.5% during the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after buying an additional 107 shares during the last quarter. GenTrust LLC boosted its holdings in T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after buying an additional 110 shares during the last quarter. Fiduciary Trust Co grew its position 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 worth $265,000 after buying an additional 111 shares during the period. Finally, 1834 Investment Advisors Co. grew its position in shares of T. Rowe Price Group by 0.3% during the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock worth $3,838,000 after buying an additional 115 shares during the period. 73.39% of the stock is owned by institutional investors.
T. Rowe Price Group Stock Performance
Shares of TROW stock opened at $118.58 on Thursday. The company has a market capitalization of $25.41 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 4.22 and a beta of 1.47. The company’s 50 day moving average price is $108.30 and its two-hundred day moving average price is $101.11. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $121.17.
T. Rowe Price Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s payout ratio is currently 55.73%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on TROW. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. TD Cowen increased their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Finally, BMO Capital Markets boosted their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $103.42.
Read Our Latest Stock Analysis on T. Rowe Price Group
Insiders Place Their Bets
In related news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.
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