Entropy Technologies LP Acquires 33,247 Shares of T. Rowe Price Group, Inc. $TROW

Entropy Technologies LP increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 533.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 39,477 shares of the asset manager’s stock after buying an additional 33,247 shares during the quarter. Entropy Technologies LP’s holdings in T. Rowe Price Group were worth $3,810,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Magnetar Financial LLC bought a new position in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $226,000. Personal CFO Solutions LLC lifted its stake in T. Rowe Price Group by 7.0% in the second quarter. Personal CFO Solutions LLC now owns 2,989 shares of the asset manager’s stock valued at $288,000 after purchasing an additional 196 shares during the last quarter. Prudential PLC lifted its stake in T. Rowe Price Group by 112.8% in the second quarter. Prudential PLC now owns 5,845 shares of the asset manager’s stock valued at $564,000 after purchasing an additional 3,098 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Finally, Traub Capital Management LLC purchased a new stake in T. Rowe Price Group in the second quarter worth $260,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays set a $101.00 price target on T. Rowe Price Group in a research note on Monday, November 3rd. Jefferies Financial Group increased their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 target price for the company. Evercore ISI upped their price target on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Finally, TD Cowen raised their price objective on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $109.38.

T. Rowe Price Group Trading Down 0.1%

Shares of T. Rowe Price Group stock opened at $97.31 on Friday. The company’s 50-day moving average price is $103.26 and its 200-day moving average price is $101.45. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company has a market cap of $21.24 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm posted $2.57 EPS. T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.34%.

About T. Rowe Price Group

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.