Bayesian Capital Management LP Purchases New Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bayesian Capital Management LP acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,353 shares of the asset manager’s stock, valued at approximately $2,116,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV grew its position in T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 86 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of T. Rowe Price Group by 0.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after acquiring an additional 88 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 92 shares during the last quarter. Paulson Wealth Management Inc. boosted its holdings in shares of T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after acquiring an additional 95 shares during the last quarter. Finally, Clear Harbor Asset Management LLC boosted its holdings in shares of T. Rowe Price Group by 3.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after acquiring an additional 100 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TROW. Citigroup raised their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $113.10.

T. Rowe Price Group Trading Down 0.3 %

NASDAQ TROW traded down $0.35 on Tuesday, reaching $112.75. 797,689 shares of the stock were exchanged, compared to its average volume of 1,297,298. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $128.14. The firm has a market capitalization of $25.18 billion, a PE ratio of 13.43, a PEG ratio of 1.63 and a beta of 1.42. The company’s 50-day simple moving average is $116.39 and its two-hundred day simple moving average is $114.16.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 20.01%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.02 EPS. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.40%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares in the company, valued at $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Company 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.