USA Financial Formulas Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

USA Financial Formulas acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,604 shares of the asset manager’s stock, valued at approximately $280,000.

Several other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in T. Rowe Price Group by 21.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after purchasing an additional 236,697 shares during the last quarter. Jump Financial LLC raised its position in shares of T. Rowe Price Group by 492.6% in the 4th quarter. Jump Financial LLC now owns 28,965 shares of the asset manager’s stock worth $3,119,000 after buying an additional 24,077 shares during the period. Qsemble Capital Management LP purchased a new position in shares of T. Rowe Price Group in the 4th quarter worth $1,968,000. AGF Management Ltd. acquired a new position in T. Rowe Price Group in the fourth quarter valued at $530,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its position in T. Rowe Price Group by 2.0% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 147,404 shares of the asset manager’s stock valued at $15,874,000 after acquiring an additional 2,885 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TROW has been the topic of several research analyst reports. Citigroup lifted their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Evercore ISI cut their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Up 0.3 %

Shares of TROW traded up $0.30 during mid-day trading on Friday, hitting $111.60. The stock had a trading volume of 1,034,435 shares, compared to its average volume of 1,668,544. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The company has a market cap of $24.92 billion, a PE ratio of 13.25, a PEG ratio of 1.93 and a beta of 1.40. The company’s fifty day simple moving average is $115.14 and its two-hundred day simple moving average is $107.93.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.69 earnings per share. Equities analysts expect that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

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.