Bridgewater Associates LP boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,857 shares of the asset manager’s stock after buying an additional 17,119 shares during the period. Bridgewater Associates LP’s holdings in T. Rowe Price Group were worth $8,986,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in TROW. Homrich & Berg raised its stake in shares of T. Rowe Price Group by 10.6% in the first quarter. Homrich & Berg now owns 7,647 shares of the asset manager’s stock worth $521,000 after buying an additional 736 shares during the last quarter. Partners Value Investments LP bought a new position in shares of T. Rowe Price Group during the first quarter worth about $2,870,000. Stratos Wealth Partners LTD. bought a new position in shares of T. Rowe Price Group during the first quarter worth about $221,000. Birinyi Associates Inc bought a new position in shares of T. Rowe Price Group during the first quarter worth about $232,000. Finally, TLP Group LLC bought a new position in shares of T. Rowe Price Group during the first quarter worth about $381,000. Hedge funds and other institutional investors own 71.24% of the company’s stock.
T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 73.83 on Tuesday. The company has a market cap of $17.81 billion, a PE ratio of 14.46 and a beta of 1.27. The stock’s 50 day moving average price is $71.60 and its 200 day moving average price is $71.80. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $78.95.
T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Tuesday, April 25th. The asset manager reported $1.18 EPS for the quarter, missing the consensus estimate of $1.20 by $0.02. T. Rowe Price Group had a return on equity of 24.24% and a net margin of 29.59%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business earned $1.15 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post $5.17 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 15th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $2.28 annualized dividend and a yield of 3.09%. T. Rowe Price Group’s dividend payout ratio is currently 44.88%.
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A number of equities analysts have issued reports on TROW shares. TheStreet upgraded T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Morgan Stanley restated an “underweight” rating and set a $67.00 target price (up previously from $64.00) on shares of T. Rowe Price Group in a report on Friday, March 17th. Argus cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Deutsche Bank AG restated a “hold” rating and set a $71.00 target price (down previously from $74.00) on shares of T. Rowe Price Group in a report on Monday, May 1st. Finally, Jefferies Group LLC restated a “buy” rating and set a $84.00 target price on shares of T. Rowe Price Group in a report on Monday, March 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $73.18.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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