Signaturefd LLC raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 187.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,584 shares of the asset manager’s stock after buying an additional 6,901 shares during the quarter. Signaturefd LLC’s holdings in T. Rowe Price Group were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the company. Wealthcare Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 1.0% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after acquiring an additional 93 shares during the period. Kesler Norman & Wride LLC boosted its stake in T. Rowe Price Group by 0.6% during the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after purchasing an additional 96 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in T. Rowe Price Group by 9.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after purchasing an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after purchasing an additional 100 shares during the last quarter. Finally, Concorde Asset Management LLC increased its stake in T. Rowe Price Group by 3.9% in the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 102 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
TROW has been the subject of several recent research reports. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research note on Wednesday, July 29th. JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. BMO Capital Markets lifted their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Finally, TD Cowen boosted their target price on T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $105.67.
T. Rowe Price Group Price Performance
Shares of TROW stock opened at $111.30 on Friday. The business’s fifty day moving average price is $113.43 and its 200 day moving average price is $102.60. The firm has a market capitalization of $23.74 billion, a PE ratio of 11.16, a P/E/G ratio of 4.34 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.24 earnings per share. Equities research analysts expect that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.
T. Rowe Price Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s dividend payout ratio is 52.16%.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.
The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.
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