T. Rowe Price Group, Inc. $TROW Shares Purchased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 255.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,126 shares of the asset manager’s stock after purchasing an additional 10,869 shares during the quarter. Impact Partnership Wealth LLC’s holdings in T. Rowe Price Group were worth $1,549,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Forsta AP Fonden lifted its stake in shares of T. Rowe Price Group by 53.0% during the fourth quarter. Forsta AP Fonden now owns 93,800 shares of the asset manager’s stock worth $9,603,000 after purchasing an additional 32,500 shares in the last quarter. Norges Bank acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth about $128,283,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth about $4,974,000. Fideuram Asset Management Ireland dac acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth about $5,181,000. Finally, National Pension Service lifted its stake in shares of T. Rowe Price Group by 7.0% during the fourth quarter. National Pension Service now owns 453,005 shares of the asset manager’s stock worth $46,379,000 after purchasing an additional 29,678 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $104.53 on Friday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22. The business’s 50-day simple moving average is $97.35 and its 200 day simple moving average is $99.25. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 5.30 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS 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 posted $2.23 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.63 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $1.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s payout ratio is 55.73%.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. Jefferies Financial Group reduced their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. TD Cowen boosted their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Evercore reduced their price objective on T. Rowe Price Group from $106.00 to $104.00 in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $99.54.

Insider Activity at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president owned 83,883 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 1.60% of the company’s stock.

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.