Redwood Investment Management LLC Purchases Shares of 8,250 T. Rowe Price Group, Inc. $TROW

Redwood Investment Management LLC purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,250 shares of the asset manager’s stock, valued at approximately $744,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in shares of T. Rowe Price Group by 332.0% during 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 during the last quarter. First Trust Advisors LP grew its position in T. Rowe Price Group by 126.5% during the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock worth $335,894,000 after buying an additional 1,832,231 shares in the last quarter. Norges Bank acquired a new stake in T. Rowe Price Group during the fourth quarter worth about $128,283,000. PFA Pension Forsikringsaktieselskab bought a new position in T. Rowe Price Group during the fourth quarter valued at about $61,073,000. Finally, Caisse de depot et placement du Quebec increased its stake in T. Rowe Price Group by 81.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after acquiring an additional 584,949 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TROW shares. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. TD Cowen boosted their price objective on T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research report on Monday. The Goldman Sachs Group upped their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Evercore set a $121.00 price target on shares of T. Rowe Price Group in a research note on Friday, July 10th. Finally, Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Reduce” and a consensus price target of $105.92.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $113.51 on Tuesday. The business has a 50 day simple moving average of $111.97 and a 200 day simple moving average of $102.18. The company has a market capitalization of $24.32 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 4.01 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 $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.45% and a net margin of 29.26%.The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.24 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.11 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 given a dividend of $1.30 per share. The ex-dividend date was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

T. Rowe Price Group 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.