Aigen Investment Management LP Invests $814,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,558 shares of the asset manager’s stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Columbia Asset Management purchased a new stake in T. Rowe Price Group in the 4th quarter valued at about $274,000. Quest Partners LLC bought a new position in T. Rowe Price Group in the fourth quarter worth approximately $928,000. Trexquant Investment LP bought a new stake in T. Rowe Price Group during the 4th quarter valued at $671,000. D.A. Davidson & CO. increased its holdings in shares of T. Rowe Price Group by 0.8% in the 4th quarter. D.A. Davidson & CO. now owns 104,144 shares of the asset manager’s stock valued at $11,215,000 after acquiring an additional 838 shares during the period. Finally, Sachetta LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth $198,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Citigroup upped their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Finally, TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $112.10.

View Our Latest Report on T. Rowe Price Group

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.8 %

TROW traded up $0.90 on Wednesday, reaching $118.53. The company had a trading volume of 284,124 shares, compared to its average volume of 1,409,000. The stock has a market capitalization of $26.47 billion, a PE ratio of 13.97, a P/E/G ratio of 2.01 and a beta of 1.40. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The stock has a 50-day moving average price of $114.93 and a 200-day moving average price of $109.20.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 earnings per share. As a group, analysts expect that T. Rowe Price Group, Inc. will post 8.8 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 Thursday, June 27th. Investors of record on Friday, June 14th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

T. Rowe Price Group Company Profile

(Free Report)

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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