Twin Tree Management LP Takes Position in T. Rowe Price Group, Inc. $TROW

Twin Tree Management LP bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, Holdings Channel reports. The fund bought 26,292 shares of the asset manager’s stock, valued at approximately $2,989,000.

Several other institutional investors also recently modified their holdings of TROW. Wealthcare Capital Partners LLC grew its holdings in T. Rowe Price Group by 1.0% in the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock worth $1,087,000 after purchasing an additional 93 shares during the period. Kesler Norman & Wride LLC increased its stake in shares of T. Rowe Price Group by 0.6% during the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock valued at $1,809,000 after purchasing an additional 96 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of T. Rowe Price Group by 9.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after purchasing an additional 100 shares during the last quarter. Finally, Concorde Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 3.9% during 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 last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 0.6%

NASDAQ:TROW opened at $111.51 on Friday. The company’s 50 day moving average price is $113.94 and its 200-day moving average price is $102.87. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 4.34 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm earned $2.24 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 10.14 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TROW shares. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, 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. Ten equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $105.67.

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.