MSH Capital Advisors LLC Acquires New Shares in T. Rowe Price Group, Inc. $TROW

MSH Capital Advisors LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 19,447 shares of the asset manager’s stock, valued at approximately $2,211,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aurora Investment Counsel bought a new stake in shares of T. Rowe Price Group during the second quarter valued at about $468,000. Northcape Wealth Management LLC bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $459,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $736,000. Csenge Advisory Group purchased a new position in T. Rowe Price Group during the second quarter valued at approximately $217,000. Finally, Johnson Financial Group Inc. purchased a new position in T. Rowe Price Group during the second quarter valued at approximately $2,492,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.7%

Shares of NASDAQ TROW opened at $112.23 on Thursday. The business has a 50-day moving average of $113.83 and a 200-day moving average of $102.76. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 4.29 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $2.24 earnings per share. T. Rowe Price Group’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

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 issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group’s dividend payout ratio is presently 52.16%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TROW shares. Evercore set a $118.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 10th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. TD Cowen boosted their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Barclays decreased their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a report on Monday, August 3rd. Finally, The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. Ten investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $105.67.

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.