T. Rowe Price Group, Inc. $TROW Shares Bought by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 332.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,770,071 shares of the asset manager’s stock after purchasing an additional 6,740,172 shares during the period. Goldman Sachs Group Inc.’s holdings in T. Rowe Price Group were worth $897,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TROW. TD Private Client Wealth LLC raised its position in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $31,000. Sound Income Strategies LLC raised its position in shares of T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in shares of T. Rowe Price Group by 92.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after purchasing an additional 185 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TROW shares. The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. BMO Capital Markets lifted their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Morgan Stanley set a $105.00 price objective on T. Rowe Price Group in a research report on Monday, April 27th. Barclays lifted their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $99.54.

T. Rowe Price Group Stock Performance

TROW stock opened at $104.01 on Thursday. The stock has a market capitalization of $22.29 billion, a P/E ratio of 11.15, a PEG ratio of 5.34 and a beta of 1.50. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22. The company has a 50 day moving average price of $98.37 and a two-hundred day moving average price of $99.22.

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

T. Rowe Price Group Announces Dividend

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

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.