Global Retirement Partners LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,815 shares of the asset manager’s stock, valued at approximately $661,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TD Private Client Wealth LLC increased its position in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the period. DV Equities LLC bought a new position in T. Rowe Price Group in the fourth quarter worth about $32,000. Motiv8 Investments LLC purchased a new stake in T. Rowe Price Group in the fourth quarter worth about $35,000. Bank & Trust Co lifted its holdings in T. Rowe Price Group by 52.4% in the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after buying an additional 108 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in T. Rowe Price Group by 92.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.
Analyst Upgrades and Downgrades
TROW has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. Barclays cut their target price on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd. Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $105.67.
T. Rowe Price Group Price Performance
T. Rowe Price Group stock opened at $110.32 on Wednesday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The business’s fifty day moving average is $113.71 and its 200 day moving average is $102.71. The stock has a market capitalization of $23.53 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 4.30 and a beta of 1.47.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’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 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.
T. Rowe Price Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $1.30 dividend. The ex-dividend date 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 (DPR) is currently 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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