3,133 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by Stevens Capital Management LP

Stevens Capital Management LP acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,133 shares of the asset manager’s stock, valued at approximately $337,000.

Several other hedge funds have also added to or reduced their stakes in TROW. OFI Invest Asset Management bought a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $25,000. Creative Financial Designs Inc. ADV grew its holdings in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares in the last quarter. Park Place Capital Corp grew its holdings in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares in the last quarter. Fortitude Family Office LLC bought a new position in T. Rowe Price Group during the fourth quarter worth about $33,000. Finally, NBC Securities Inc. bought a new position in T. Rowe Price Group during the third quarter worth about $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TROW shares. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price objective for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Finally, UBS Group lifted their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.67.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded up $5.19 during trading on Friday, hitting $114.02. The company’s stock had a trading volume of 2,943,260 shares, compared to its average volume of 1,443,438. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The stock has a market cap of $25.50 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 2.08 and a beta of 1.40. The stock has a 50-day moving average price of $115.00 and a two-hundred day moving average price of $107.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $1.69 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.24 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a yield of 4.35%. T. Rowe Price Group’s payout ratio is presently 63.92%.

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.