48,587 Shares in T. Rowe Price Group, Inc. $TROW Purchased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd bought 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 filing with the Securities & Exchange Commission. The institutional investor bought 48,587 shares of the asset manager’s stock, valued at approximately $4,974,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Essex Bank raised its holdings in T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock worth $299,000 after acquiring an additional 100 shares in the last quarter. PFG Investments LLC raised its holdings in T. Rowe Price Group by 4.8% during the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after acquiring an additional 102 shares in the last quarter. GenTrust LLC raised its holdings in T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after acquiring an additional 110 shares in the last quarter. Fiduciary Trust Co raised its holdings in T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after acquiring an additional 111 shares in the last quarter. Finally, 1834 Investment Advisors Co. raised its holdings in T. Rowe Price Group by 0.3% during the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock worth $3,838,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Down 0.4%

Shares of NASDAQ TROW opened at $102.01 on Friday. The business’s 50 day moving average price is $94.55 and its two-hundred day moving average price is $99.23. The company has a market cap of $21.86 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 4.48 and a beta of 1.51. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.23 earnings per share. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.61 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s payout ratio is 55.73%.

Analysts Set New Price Targets

Several research firms recently issued reports on TROW. TD Cowen upped their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Evercore dropped their target price on T. Rowe Price Group from $106.00 to $104.00 in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft dropped their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.