Entropy Technologies LP Makes New Investment in T. Rowe Price Group, Inc. $TROW

Entropy Technologies LP purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,860 shares of the asset manager’s stock, valued at approximately $2,238,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TROW. Goldman Sachs Group Inc. lifted its stake in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after acquiring an additional 6,740,172 shares during the last quarter. First Trust Advisors LP boosted its holdings in T. Rowe Price Group by 126.5% during the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after acquiring an additional 1,832,231 shares during the period. Norges Bank bought a new position in T. Rowe Price Group during the 4th quarter worth approximately $128,283,000. PFA Pension Forsikringsaktieselskab bought a new position in T. Rowe Price Group during the 4th quarter worth approximately $61,073,000. Finally, Caisse de depot et placement du Quebec increased its stake in T. Rowe Price Group by 81.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were 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. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $108.61 on Tuesday. 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 50-day moving average of $101.19 and a 200 day moving average of $99.67. The company has a market cap of $23.27 billion, a P/E ratio of 11.64, a PEG ratio of 5.61 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 EPS. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TROW shares. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. TD Cowen lifted their target price 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. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Jefferies Financial Group dropped their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. Finally, Barclays raised their price target on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a report on Friday, May 1st. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and a consensus price target of $100.08.

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.