6,858 Shares in T. Rowe Price Group, Inc. $TROW Bought by Legato Capital Management LLC

Legato Capital Management LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,858 shares of the asset manager’s stock, valued at approximately $702,000.

Other hedge funds have also added to or reduced their stakes in the company. Essex Bank grew its stake in shares of T. Rowe Price Group by 3.6% in the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock worth $299,000 after purchasing an additional 100 shares during the last quarter. PFG Investments LLC grew its stake in shares of T. Rowe Price Group by 4.8% in the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after purchasing an additional 102 shares during the last quarter. GenTrust LLC grew its stake in shares of T. Rowe Price Group by 5.5% in the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after purchasing an additional 110 shares during the last quarter. Fiduciary Trust Co grew its stake in shares of T. Rowe Price Group by 4.5% in the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after purchasing an additional 111 shares during the last quarter. Finally, 1834 Investment Advisors Co. grew its stake in shares of T. Rowe Price Group by 0.3% in the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock worth $3,838,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Up 0.4%

TROW stock opened at $103.82 on Wednesday. The stock has a 50-day moving average price of $96.36 and a 200-day moving average price of $99.19. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The firm has a market cap of $22.25 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 5.29 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share 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 firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company posted $2.23 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Analyst Ratings Changes

Several analysts recently weighed in on TROW shares. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. The Goldman Sachs Group boosted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. TD Cowen boosted their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets boosted their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $99.54.

T. Rowe Price Group 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.