Focused Alpha LLC Purchases New Position in T. Rowe Price Group, Inc. $TROW

Focused Alpha LLC purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,843 shares of the asset manager’s stock, valued at approximately $551,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. TD Private Client Wealth LLC grew its holdings in shares of 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 worth $26,000 after acquiring an additional 123 shares during the period. DV Equities LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $32,000. Motiv8 Investments LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at approximately $35,000. Bank & Trust Co lifted its stake in shares of T. Rowe Price Group by 52.4% in 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 during the period. Finally, TD Waterhouse Canada Inc. boosted its position in shares of T. Rowe Price Group by 92.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 185 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on TROW. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Evercore set a $118.00 target price on shares of T. Rowe Price Group in a report on Monday, August 10th. TD Cowen upped their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Finally, BMO Capital Markets lifted their price target on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and an average price target of $105.67.

T. Rowe Price Group Stock Down 0.1%

TROW stock opened at $110.46 on Tuesday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The firm has a market cap of $23.56 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 4.30 and a beta of 1.47. The business has a 50 day moving average of $113.62 and a 200 day moving average of $102.67.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the business earned $2.24 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s payout ratio is currently 52.16%.

T. Rowe Price Group Company 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.