T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 70.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 212,013 shares of the asset manager’s stock after acquiring an additional 87,539 shares during the period. Worldquant Millennium Advisors LLC’s holdings in T. Rowe Price Group were worth $23,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its position in shares of T. Rowe Price Group by 13.6% during the 3rd quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock valued at $89,635,000 after buying an additional 98,448 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $474,000. Merit Financial Group LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $1,502,000. HB Wealth Management LLC lifted its position in shares of T. Rowe Price Group by 12.4% during the 4th quarter. HB Wealth Management LLC now owns 2,691 shares of the asset manager’s stock valued at $304,000 after buying an additional 296 shares in the last quarter. Finally, City Holding Co. lifted its position in shares of T. Rowe Price Group by 3.6% during the 4th quarter. City Holding Co. now owns 3,622 shares of the asset manager’s stock valued at $410,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley increased their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Cowen reiterated a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $94.09.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were 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 trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.9%

Shares of TROW opened at $97.09 on Wednesday. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The company has a market capitalization of $21.39 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The stock has a fifty day simple moving average of $90.65 and a two-hundred day simple moving average of $105.57.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $2.38 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 57.60%.

T. Rowe Price Group Company Profile

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.