KBC Group NV Purchases 7,848 Shares of T. Rowe Price Group, Inc. $TROW

KBC Group NV lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.3% in the first quarter, Holdings Channel.com reports. The firm owned 50,640 shares of the asset manager’s stock after purchasing an additional 7,848 shares during the quarter. KBC Group NV’s holdings in T. Rowe Price Group were worth $4,565,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of TROW. TD Private Client Wealth LLC raised its holdings in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new stake in T. Rowe Price Group in the fourth quarter worth approximately $31,000. Sound Income Strategies LLC grew its position in T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. Finally, DV Equities LLC bought a new position in T. Rowe Price Group during the fourth quarter valued at approximately $32,000. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction 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 in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $114.95 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $121.17. The company has a market cap of $24.63 billion, a PE ratio of 12.32, a P/E/G ratio of 4.16 and a beta of 1.47. The stock’s 50-day moving average is $109.89 and its 200 day moving average is $101.67.

T. Rowe Price Group (NASDAQ:TROW) last released 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. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the business posted $2.23 EPS. 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $1.30 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective 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. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Jefferies Financial Group lowered their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Finally, Evercore set a $121.00 price objective on T. Rowe Price Group in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $104.50.

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.