ProShare Advisors LLC Has $163.79 Million Position in T. Rowe Price Group, Inc. $TROW

ProShare Advisors LLC reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,599,845 shares of the asset manager’s stock after selling 13,295 shares during the quarter. ProShare Advisors LLC’s holdings in T. Rowe Price Group were worth $163,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Essex Bank boosted its position in shares of T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock worth $299,000 after buying an additional 100 shares during the period. PFG Investments LLC boosted its position in shares of T. Rowe Price Group by 4.8% during the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after buying an additional 102 shares during the period. GenTrust LLC boosted its position in shares of T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after buying an additional 110 shares during the period. Fiduciary Trust Co boosted its position in shares of T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after buying an additional 111 shares during the period. Finally, 1834 Investment Advisors Co. boosted its position in shares of T. Rowe Price Group by 0.3% during the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock worth $3,838,000 after buying an additional 115 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TROW shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. TD Cowen upped their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. The Goldman Sachs Group upped their price objective on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Keefe, Bruyette & Woods upped 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 report on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $99.54.

T. Rowe Price Group Stock Performance

TROW opened at $102.38 on Tuesday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $118.22. The firm has a market capitalization of $21.94 billion, a PE ratio of 10.97, a PEG ratio of 4.46 and a beta of 1.51. The business’s 50-day simple moving average is $94.76 and its 200 day simple moving average is $99.17.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (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 analyst estimates of $1.85 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. T. Rowe Price Group’s revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.61 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.1%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

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.