Gamco Investors INC. ET AL Has $4.08 Million Position in T. Rowe Price Group, Inc. $TROW

Gamco Investors INC. ET AL increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 44.2% during the 1st quarter, Holdings Channel reports. The fund owned 45,210 shares of the asset manager’s stock after acquiring an additional 13,850 shares during the period. Gamco Investors INC. ET AL’s holdings in T. Rowe Price Group were worth $4,075,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Compound Planning Inc. increased its position in T. Rowe Price Group by 30.0% in the 1st quarter. Compound Planning Inc. now owns 3,248 shares of the asset manager’s stock valued at $293,000 after buying an additional 749 shares in the last quarter. Caxton Associates LLP acquired a new stake in T. Rowe Price Group in the first quarter valued at approximately $626,000. Inceptionr LLC bought a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $1,647,000. Sei Investments Co. raised its position in shares of T. Rowe Price Group by 116.5% during the first quarter. Sei Investments Co. now owns 187,440 shares of the asset manager’s stock worth $16,892,000 after purchasing an additional 100,851 shares during the period. Finally, Keynote Financial Services LLC lifted its holdings in shares of T. Rowe Price Group by 11.2% in the 1st quarter. Keynote Financial Services LLC now owns 3,575 shares of the asset manager’s stock worth $322,000 after purchasing an additional 361 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. Jefferies Financial Group decreased their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. BMO Capital Markets upped their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Finally, TD Cowen lowered their price objective on T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating for the company in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $104.50.

T. Rowe Price Group Stock Up 2.3%

Shares of NASDAQ TROW opened at $119.21 on Tuesday. The company has a market capitalization of $25.54 billion, a PE ratio of 12.78, a PEG ratio of 4.18 and a beta of 1.47. The stock’s 50 day moving average price is $110.52 and its 200-day moving average price is $101.81. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 10.12 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s payout ratio is presently 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group 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.