T. Rowe Price Group Inc (NASDAQ:TROW) Stake Lifted by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA raised its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 381.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,545 shares of the asset manager’s stock after buying an additional 68,575 shares during the period. BNP Paribas Arbitrage SA’s holdings in T. Rowe Price Group were worth $8,665,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc boosted its stake in shares of T. Rowe Price Group by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 21,212,245 shares of the asset manager’s stock worth $2,315,952,000 after acquiring an additional 457,683 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of T. Rowe Price Group by 5,160.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,804,712 shares of the asset manager’s stock worth $63,000 after acquiring an additional 5,694,370 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,439,749 shares of the asset manager’s stock worth $317,047,000 after acquiring an additional 76,186 shares in the last quarter. Northern Trust Corp boosted its stake in shares of T. Rowe Price Group by 3.1% during the 4th quarter. Northern Trust Corp now owns 2,861,801 shares of the asset manager’s stock worth $264,201,000 after acquiring an additional 86,061 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $216,223,000. Institutional investors own 71.32% of the company’s stock.

TROW traded down $0.40 during trading on Wednesday, hitting $105.28. The company’s stock had a trading volume of 500,400 shares, compared to its average volume of 1,303,982. The company has a market capitalization of $24.68 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. T. Rowe Price Group Inc has a twelve month low of $84.59 and a twelve month high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, April 24th. The asset manager reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.26. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. T. Rowe Price Group had a return on equity of 28.93% and a net margin of 35.05%. T. Rowe Price Group’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 EPS. As a group, research analysts anticipate that T. Rowe Price Group Inc will post 7.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.76 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.89%. T. Rowe Price Group’s payout ratio is 42.52%.

In other news, VP Scott B. David sold 45,118 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $107.88, for a total transaction of $4,867,329.84. Following the completion of the sale, the vice president now directly owns 48,454 shares in the company, valued at approximately $5,227,217.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Edward C. Bernard sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $107.92, for a total value of $2,158,400.00. Following the sale, the insider now owns 649,135 shares of the company’s stock, valued at $70,054,649.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,735 shares of company stock valued at $7,289,340. Insiders own 3.10% of the company’s stock.

Several brokerages have recently commented on TROW. Jefferies Financial Group boosted their price target on T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Gabelli restated a “buy” rating on shares of T. Rowe Price Group in a research report on Thursday, April 25th. BidaskClub upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Credit Suisse Group lifted their price objective on T. Rowe Price Group from $107.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. Finally, Bank of America set a $112.00 price objective on T. Rowe Price Group and gave the stock a “buy” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $106.75.

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T. Rowe Price Group Company Profile

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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