EP Wealth Advisors LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,013 shares of the asset manager’s stock, valued at approximately $684,000.
Other institutional investors have also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its position in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares in the last quarter. DV Equities LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth $32,000. Motiv8 Investments LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at $35,000. Bank & Trust Co raised its holdings in shares of T. Rowe Price Group by 52.4% during the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 108 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on TROW. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a report on Wednesday, July 29th. The Goldman Sachs Group raised their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Finally, Evercore set a $118.00 target price on T. Rowe Price Group in a report on Monday, August 10th. Ten analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $105.67.
T. Rowe Price Group Trading Up 0.7%
Shares of NASDAQ:TROW opened at $112.30 on Tuesday. The firm has a market capitalization of $23.96 billion, a PE ratio of 11.26, a PEG ratio of 3.70 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. The business’s 50 day moving average is $114.02 and its 200-day moving average is $102.91.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating 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 period in the prior year, the company posted $2.24 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 10.14 EPS for the current year.
T. Rowe Price Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.
T. Rowe Price Group Profile
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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