T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 1.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,541,497 shares of the asset manager’s stock after acquiring an additional 147,938 shares during the period. JPMorgan Chase & Co. owned approximately 3.80% of T. Rowe Price Group worth $1,679,600,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in TROW. CBOE Vest Financial LLC raised its position in shares of T. Rowe Price Group by 12.4% during the 3rd quarter. CBOE Vest Financial LLC now owns 25,334 shares of the asset manager’s stock valued at $4,984,000 after acquiring an additional 2,795 shares in the last quarter. MD Financial Management Inc. grew its stake in T. Rowe Price Group by 7.4% during the 3rd quarter. MD Financial Management Inc. now owns 17,349 shares of the asset manager’s stock worth $3,413,000 after buying an additional 1,190 shares during the last quarter. Concord Wealth Partners grew its stake in T. Rowe Price Group by 3,180.0% during the 4th quarter. Concord Wealth Partners now owns 328 shares of the asset manager’s stock worth $64,000 after buying an additional 318 shares during the last quarter. First Horizon Advisors Inc. grew its stake in T. Rowe Price Group by 9.1% during the 4th quarter. First Horizon Advisors Inc. now owns 2,251 shares of the asset manager’s stock worth $442,000 after buying an additional 187 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its stake in T. Rowe Price Group by 7.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,338 shares of the asset manager’s stock worth $460,000 after buying an additional 167 shares during the last quarter. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 8,216 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $142.92, for a total transaction of $1,174,230.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 730 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $125.00, for a total value of $91,250.00. Following the sale, the insider now owns 13,089 shares of the company’s stock, valued at $1,636,125. The disclosure for this sale can be found here. Insiders sold a total of 10,206 shares of company stock valued at $1,446,480 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on TROW. BMO Capital Markets lowered their price objective on T. Rowe Price Group from $204.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, May 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $156.00 price target on shares of T. Rowe Price Group in a research note on Monday, April 11th. Morgan Stanley decreased their price target on T. Rowe Price Group from $178.00 to $170.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Deutsche Bank Aktiengesellschaft decreased their price target on T. Rowe Price Group from $159.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, April 7th. Finally, StockNews.com initiated coverage on T. Rowe Price Group in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $170.00.

Shares of NASDAQ:TROW traded up $2.72 during midday trading on Friday, reaching $121.96. The company had a trading volume of 1,705,670 shares, compared to its average volume of 1,740,971. T. Rowe Price Group, Inc. has a 1-year low of $112.65 and a 1-year high of $224.55. The firm has a market cap of $27.72 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.34. The company has a fifty day simple moving average of $139.39 and a two-hundred day simple moving average of $167.18.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last released its quarterly earnings results on Thursday, April 28th. The asset manager reported $2.62 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.14). T. Rowe Price Group had a net margin of 37.64% and a return on equity of 33.38%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned $3.01 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.93 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Investors of record on Wednesday, June 15th will be given a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.94%. T. Rowe Price Group’s dividend payout ratio (DPR) is 38.83%.

T. Rowe Price Group Profile (Get Rating)

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.

See Also

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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