Quinn Opportunity Partners LLC Lowers Position in T. Rowe Price Group, Inc. $TROW

Quinn Opportunity Partners LLC decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 22.0% during the third quarter, Holdings Channel reports. The fund owned 95,098 shares of the asset manager’s stock after selling 26,803 shares during the period. Quinn Opportunity Partners LLC’s holdings in T. Rowe Price Group were worth $9,761,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Woodline Partners LP lifted its stake in shares of T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after purchasing an additional 5,467 shares during the period. Focus Partners Wealth grew its stake in T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after purchasing an additional 1,250 shares during the period. National Pension Service grew its stake in T. Rowe Price Group by 0.6% in the second quarter. National Pension Service now owns 402,918 shares of the asset manager’s stock worth $38,882,000 after purchasing an additional 2,457 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in T. Rowe Price Group by 20.1% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 351,907 shares of the asset manager’s stock worth $33,959,000 after purchasing an additional 58,800 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in T. Rowe Price Group by 3.4% in the second 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 in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.8%

NASDAQ TROW opened at $88.59 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.22. The stock’s fifty day moving average price is $98.89 and its 200-day moving average price is $102.21. The stock has a market cap of $19.32 billion, a P/E ratio of 9.58, a P/E/G ratio of 3.68 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results 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 company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 EPS. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.9%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio is presently 54.92%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Argus raised shares of T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. dropped their price objective on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research note on Thursday, February 5th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a report on Thursday, February 5th. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $101.69.

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.