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

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

Other large investors also recently added to or reduced their stakes in the company. CBOE Vest Financial LLC raised its stake in shares of T. Rowe Price Group by 12.4% during the 3rd quarter. CBOE Vest Financial LLC now owns 25,334 shares of the asset manager’s stock valued at $4,984,000 after purchasing an additional 2,795 shares during the period. MD Financial Management Inc. increased its stake in T. Rowe Price Group by 7.4% in the 3rd quarter. MD Financial Management Inc. now owns 17,349 shares of the asset manager’s stock worth $3,413,000 after acquiring an additional 1,190 shares during the last quarter. Concord Wealth Partners increased its stake in T. Rowe Price Group by 3,180.0% in the 4th quarter. Concord Wealth Partners now owns 328 shares of the asset manager’s stock worth $64,000 after acquiring an additional 318 shares during the last quarter. First Horizon Advisors Inc. increased its stake in T. Rowe Price Group by 9.1% in the 4th quarter. First Horizon Advisors Inc. now owns 2,251 shares of the asset manager’s stock worth $442,000 after acquiring an additional 187 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its stake in T. Rowe Price Group by 7.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,338 shares of the asset manager’s stock worth $460,000 after acquiring an additional 167 shares during the last quarter. Institutional investors own 71.80% of the company’s stock.

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 8,216 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $142.92, for a total value of $1,174,230.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 730 shares of the stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $125.00, for a total value of $91,250.00. Following the completion of the sale, the insider now owns 13,089 shares of the company’s stock, valued at approximately $1,636,125. The disclosure for this sale can be found here. Insiders have sold a total of 10,206 shares of company stock valued at $1,446,480 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Shares of TROW traded up $2.72 during midday trading on Friday, reaching $121.96. The stock had a trading volume of 1,705,670 shares, compared to its average volume of 1,740,971. The company’s 50-day moving average is $139.39 and its 200 day moving average is $167.18. T. Rowe Price Group, Inc. has a 12-month low of $112.65 and a 12-month high of $224.55. The company has a market capitalization of $27.72 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.34.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued 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%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.01 earnings per share. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 10.93 earnings per share for the current fiscal year.

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

TROW has been the topic of a number of research analyst reports. Citigroup decreased their target price on T. Rowe Price Group from $110.00 to $90.00 in a research note on Friday, April 29th. BMO Capital Markets decreased their target price on T. Rowe Price Group from $204.00 to $160.00 and set an “outperform” rating on the stock in a research note on Monday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their target price 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 target price on shares of T. Rowe Price Group in a research note on Monday, April 11th. Finally, StockNews.com started coverage on T. Rowe Price Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price 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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