Bayesian Capital Management LP Buys Shares of 17,353 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bayesian Capital Management LP bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,353 shares of the asset manager’s stock, valued at approximately $2,116,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kinloch Capital LLC grew its position in T. Rowe Price Group by 27.4% in the first quarter. Kinloch Capital LLC now owns 32,082 shares of the asset manager’s stock valued at $3,911,000 after acquiring an additional 6,896 shares during the last quarter. Caxton Associates LP grew its holdings in shares of T. Rowe Price Group by 124.6% during the first quarter. Caxton Associates LP now owns 16,782 shares of the asset manager’s stock worth $2,046,000 after purchasing an additional 9,310 shares during the last quarter. Paloma Partners Management Co grew its holdings in shares of T. Rowe Price Group by 148.7% during the first quarter. Paloma Partners Management Co now owns 5,703 shares of the asset manager’s stock worth $695,000 after purchasing an additional 17,403 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of T. Rowe Price Group by 9.1% during the first quarter. Public Employees Retirement System of Ohio now owns 161,979 shares of the asset manager’s stock worth $19,748,000 after purchasing an additional 13,468 shares during the last quarter. Finally, Morse Asset Management Inc grew its holdings in shares of T. Rowe Price Group by 57.5% during the first quarter. Morse Asset Management Inc now owns 17,420 shares of the asset manager’s stock worth $2,124,000 after purchasing an additional 6,361 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on TROW shares. Morgan Stanley boosted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating on the stock in a report on Monday. Evercore ISI reduced their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, UBS Group lifted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $113.10.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded down $0.35 during midday trading on Tuesday, reaching $112.75. The company had a trading volume of 797,689 shares, compared to its average volume of 1,297,298. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $128.14. The stock has a fifty day moving average price of $116.39 and a 200 day moving average price of $114.16. The firm has a market cap of $25.18 billion, a PE ratio of 13.43, a P/E/G ratio of 1.63 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 20.01%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the firm posted $2.02 earnings per share. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.40%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.