T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 71.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 120,578 shares of the asset manager’s stock after acquiring an additional 50,045 shares during the period. Assenagon Asset Management S.A.’s holdings in T. Rowe Price Group were worth $11,078,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Advisors Network LLC acquired a new position in T. Rowe Price Group during the first quarter worth $271,000. Handelsbanken Fonder AB raised its holdings in shares of T. Rowe Price Group by 4.8% in the first quarter. Handelsbanken Fonder AB now owns 49,745 shares of the asset manager’s stock worth $4,570,000 after acquiring an additional 2,297 shares during the last quarter. Central Valley Advisors LLC raised its holdings in shares of T. Rowe Price Group by 30.6% in the first quarter. Central Valley Advisors LLC now owns 2,393 shares of the asset manager’s stock worth $220,000 after acquiring an additional 560 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of T. Rowe Price Group by 5.1% in the first quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager’s stock worth $333,000 after acquiring an additional 176 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of T. Rowe Price Group by 75.8% in the first quarter. Farther Finance Advisors LLC now owns 7,949 shares of the asset manager’s stock worth $733,000 after acquiring an additional 3,427 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president now directly owns 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,923 shares of company stock valued at $646,856. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 3.2%

Shares of NASDAQ:TROW opened at $91.58 on Friday. The company has a market cap of $20.18 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The business has a fifty day simple moving average of $91.66 and a 200-day simple moving average of $102.59.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business earned $2.38 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 57.60%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TROW shares. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a report on Monday, April 14th. Bank of America cut their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Cowen reissued a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Evercore ISI cut their price target on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, April 11th. Finally, Barclays boosted their price target on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a report on Monday, May 5th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.09.

T. Rowe Price Group 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.