Chilton Investment Co. Inc. Purchases New Shares in T. Rowe Price Group, Inc. $TROW

Chilton Investment Co. Inc. purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 107,268 shares of the asset manager’s stock, valued at approximately $11,010,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of T. Rowe Price Group by 0.5% in the second quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock valued at $2,549,213,000 after acquiring an additional 130,325 shares during the period. State Street Corp boosted its stake in shares of T. Rowe Price Group by 1.5% during the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock worth $1,400,241,000 after purchasing an additional 211,647 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in T. Rowe Price Group by 1.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock valued at $757,200,000 after purchasing an additional 140,385 shares during the last quarter. Geode Capital Management LLC raised its position in T. Rowe Price Group by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock worth $578,059,000 after purchasing an additional 197,024 shares during the period. Finally, Invesco Ltd. raised its position in T. Rowe Price Group by 0.3% in the 2nd quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock worth $332,415,000 after purchasing an additional 11,036 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays set a $94.00 price objective on shares of T. Rowe Price Group in a research note on Thursday, February 5th. Argus upgraded T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. BMO Capital Markets decreased their price target on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Bank of America boosted their price objective on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Finally, TD Cowen cut their price objective on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Twelve research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $101.69.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $88.59 on Friday. The company has a market capitalization of $19.32 billion, a PE ratio of 9.58, a P/E/G ratio of 3.71 and a beta of 1.54. The company has a 50 day moving average price of $98.89 and a 200-day moving average price of $102.16. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.12 EPS. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a dividend of $1.30 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s payout ratio is 56.22%.

T. Rowe Price Group Company 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.