Lionshead Wealth Management LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lionshead Wealth Management LLC purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,408 shares of the asset manager’s stock, valued at approximately $385,000.

Other hedge funds have also recently made changes to their positions in the company. Nilsine Partners LLC boosted its stake in shares of T. Rowe Price Group by 75.5% during the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after purchasing an additional 2,370 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Amundi boosted its stake in shares of T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of T. Rowe Price Group by 49.4% during the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock valued at $25,229,000 after purchasing an additional 73,307 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after purchasing an additional 20,062 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America cut their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley lifted their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Evercore ISI cut their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. Finally, The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, April 14th. 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 a consensus rating of “Hold” and an average price target of $94.09.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $92.74 on Monday. The company has a market cap of $20.43 billion, a P/E ratio of 10.12, a PEG ratio of 2.86 and a beta of 1.50. The stock has a 50 day simple moving average of $90.62 and a two-hundred day simple moving average of $106.22. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.38 earnings per share. On average, research 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.48%. T. Rowe Price Group’s dividend payout ratio is 57.60%.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.