Goldman Sachs Group Inc. Buys 668,099 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Goldman Sachs Group Inc. boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 44.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,159,851 shares of the asset manager’s stock after purchasing an additional 668,099 shares during the period. Goldman Sachs Group Inc.’s holdings in T. Rowe Price Group were worth $424,714,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of T. Rowe Price Group by 2.3% in the 4th quarter. State Street Corp now owns 12,103,628 shares of the asset manager’s stock worth $2,380,057,000 after purchasing an additional 274,795 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of T. Rowe Price Group by 1.8% in the 4th quarter. JPMorgan Chase & Co. now owns 8,541,497 shares of the asset manager’s stock worth $1,679,600,000 after purchasing an additional 147,938 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of T. Rowe Price Group by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 4,712,847 shares of the asset manager’s stock worth $924,658,000 after purchasing an additional 101,912 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,456,219 shares of the asset manager’s stock worth $679,632,000 after purchasing an additional 133,655 shares in the last quarter. Finally, Provident Trust Co. increased its holdings in shares of T. Rowe Price Group by 1.5% in the 4th quarter. Provident Trust Co. now owns 2,195,344 shares of the asset manager’s stock worth $431,692,000 after purchasing an additional 33,067 shares in the last quarter. 71.80% of the stock is owned by institutional investors.

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 8,216 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $142.92, for a total transaction of $1,174,230.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,260 shares of the firm’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $143.65, for a total value of $180,999.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,206 shares of company stock worth $1,446,480. Insiders own 1.00% of the company’s stock.

NASDAQ TROW traded up $2.72 on Friday, hitting $121.96. 1,705,670 shares of the company traded hands, compared to its average volume of 1,740,971. The company has a market capitalization of $27.72 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 1.77 and a beta of 1.34. The business’s 50 day moving average price is $139.39 and its 200-day moving average price is $167.18. T. Rowe Price Group, Inc. has a 52-week low of $112.65 and a 52-week high of $224.55.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last released its earnings results on Thursday, April 28th. The asset manager reported $2.62 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.14). The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. T. Rowe Price Group had a net margin of 37.64% and a return on equity of 33.38%. T. Rowe Price Group’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.01 earnings per share. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 10.93 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Shareholders of record on Wednesday, June 15th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $4.80 dividend on an annualized basis and a yield of 3.94%. T. Rowe Price Group’s dividend payout ratio is presently 38.83%.

A number of research firms have commented on TROW. BMO Capital Markets reduced their target price on T. Rowe Price Group from $204.00 to $160.00 and set an “outperform” rating for the company in a report on Monday, May 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on T. Rowe Price Group from $159.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, April 7th. Jefferies Financial Group restated a “hold” rating and issued a $156.00 price target on shares of T. Rowe Price Group in a research note on Monday, April 11th. Morgan Stanley dropped their price target on T. Rowe Price Group from $178.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Finally, Citigroup dropped their price target on T. Rowe Price Group from $110.00 to $90.00 in a research note on Friday, April 29th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $170.00.

T. Rowe Price Group Company Profile (Get Rating)

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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