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Is T. Rowe Price Group Inc (TROW) A Good Stock to Own?

As one would reasonably expect, some big names were breaking ground themselves. Millennium Management assembled the biggest position in T. Rowe Price Group Inc (NASDAQ:TROW). Millennium Management had $38.3 million invested in the company at the end of the quarter. Ray Dalio’s Bridgewater Associates also made a $6.5 million investment in the stock during the quarter. The following funds were also among the new TROW investors: Ken Griffin’s Citadel Investment Group, Matthew Tewksbury’s Stevens Capital Management, and Alec Litowitz and Ross Laser’s Magnetar Capital.

Let’s now review hedge fund activity in other stocks similar to T. Rowe Price Group Inc (NASDAQ:TROW). We will take a look at Sprint Nextel Corporation (NYSE:S), Dr Pepper Snapple Group Inc. (NYSE:DPS), The Clorox Company (NYSE:CLX), and DTE Energy Co (NYSE:DTE). All of these stocks’ market caps match TROW’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
S 29 331367 9
DPS 32 1865502 -2
CLX 25 771295 -1
DTE 20 533875 5

As you can see these stocks had an average of 26.5 hedge funds with bullish positions and the average amount invested in these stocks was $876 million. That figure was $534 million in TROW’s case. Dr Pepper Snapple Group Inc. (NYSE:DPS) is the most popular stock in this table. On the other hand DTE Energy Co (NYSE:DTE) is the least popular one with only 20 bullish hedge fund positions. T. Rowe Price Group Inc (NASDAQ:TROW) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on recently. In this regard Sprint might be a better candidate to consider a long position in.

Disclosure: None

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