Empirical Asset Management LLC Has $576,000 Stock Holdings in T. Rowe Price Group, Inc. $TROW

Empirical Asset Management LLC raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,966 shares of the asset manager’s stock after purchasing an additional 887 shares during the quarter. Empirical Asset Management LLC’s holdings in T. Rowe Price Group were worth $576,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Praxis Investment Management Inc. lifted its holdings in T. Rowe Price Group by 12.0% during the 2nd quarter. Praxis Investment Management Inc. now owns 4,850 shares of the asset manager’s stock valued at $468,000 after purchasing an additional 520 shares during the last quarter. S Bank Fund Management Ltd lifted its holdings in T. Rowe Price Group by 15.0% during the 2nd quarter. S Bank Fund Management Ltd now owns 3,431 shares of the asset manager’s stock valued at $331,000 after purchasing an additional 448 shares during the last quarter. Bellecapital International Ltd. lifted its holdings in T. Rowe Price Group by 12.9% during the 2nd quarter. Bellecapital International Ltd. now owns 17,212 shares of the asset manager’s stock valued at $1,661,000 after purchasing an additional 1,966 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in T. Rowe Price Group by 30.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 615,354 shares of the asset manager’s stock valued at $59,382,000 after purchasing an additional 143,149 shares during the last quarter. Finally, Generali Asset Management SPA SGR lifted its holdings in T. Rowe Price Group by 1,038.5% during the 2nd quarter. Generali Asset Management SPA SGR now owns 10,235 shares of the asset manager’s stock valued at $988,000 after purchasing an additional 9,336 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $103.70 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market capitalization of $22.78 billion, a P/E ratio of 11.59, a PEG ratio of 5.66 and a beta of 1.50. The stock’s fifty day moving average is $105.78 and its 200 day moving average is $98.84.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business earned $2.26 earnings per share. T. Rowe Price Group’s revenue was down .6% on a year-over-year basis. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s payout ratio is currently 56.76%.

Analysts Set New Price Targets

Several brokerages have issued reports on TROW. Bank of America raised their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Jefferies Financial Group lifted their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. BMO Capital Markets began coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and an average price target of $106.92.

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.