Stevens Capital Management LP Acquires New Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Stevens Capital Management LP acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,133 shares of the asset manager’s stock, valued at approximately $337,000.

Several other hedge funds also recently bought and sold shares of the company. AE Wealth Management LLC raised its holdings in T. Rowe Price Group by 19.2% during the 3rd quarter. AE Wealth Management LLC now owns 11,878 shares of the asset manager’s stock valued at $1,246,000 after buying an additional 1,914 shares during the last quarter. Czech National Bank increased its position in T. Rowe Price Group by 47.5% during the 3rd quarter. Czech National Bank now owns 39,202 shares of the asset manager’s stock valued at $4,111,000 after purchasing an additional 12,618 shares during the period. L. Roy Papp & Associates LLP increased its position in T. Rowe Price Group by 3.3% during the 3rd quarter. L. Roy Papp & Associates LLP now owns 150,102 shares of the asset manager’s stock valued at $15,741,000 after purchasing an additional 4,772 shares during the period. Simplicity Solutions LLC increased its position in T. Rowe Price Group by 3.4% during the 3rd quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock valued at $356,000 after purchasing an additional 112 shares during the period. Finally, Grimes & Company Inc. grew its position in shares of T. Rowe Price Group by 3.2% in the 3rd quarter. Grimes & Company Inc. now owns 166,293 shares of the asset manager’s stock worth $17,439,000 after buying an additional 5,197 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 4.8 %

Shares of TROW stock traded up $5.19 on Friday, reaching $114.02. The company’s stock had a trading volume of 2,943,260 shares, compared to its average volume of 1,443,438. The stock’s fifty day simple moving average is $115.00 and its 200-day simple moving average is $107.00. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The company has a market capitalization of $25.50 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 2.08 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $1.69 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is 63.92%.

Insider Transactions at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TROW. UBS Group increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Citigroup increased their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a research report on Monday, April 8th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $112.67.

About T. Rowe Price Group

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.