T. Rowe Price Group, Inc. $TROW Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 245.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,516 shares of the asset manager’s stock after acquiring an additional 7,471 shares during the period. SteelPeak Wealth LLC’s holdings in T. Rowe Price Group were worth $948,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its position in T. Rowe Price Group by 0.3% in the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after acquiring an additional 45,530 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after purchasing an additional 143,109 shares in the last quarter. Invesco Ltd. increased its holdings in shares of T. Rowe Price Group by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after purchasing an additional 131,438 shares during the period. Finally, Morgan Stanley increased its holdings in shares of T. Rowe Price Group by 16.0% during the fourth quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock valued at $352,528,000 after purchasing an additional 476,219 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $117.35 on Friday. The firm has a 50 day simple moving average of $108.85 and a 200 day simple moving average of $101.32. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $121.17. The company has a market cap of $25.14 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 4.23 and a beta of 1.47.

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 net margin of 28.28% and a return on equity of 20.60%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company posted $2.23 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 10.07 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TROW. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. The Goldman Sachs Group boosted their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. BMO Capital Markets boosted 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 note on Monday, May 4th. Finally, Jefferies Financial Group cut their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $103.42.

About T. Rowe Price Group

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.