3,220 Shares in T. Rowe Price Group, Inc. $TROW Bought by City Center Advisors LLC

Key Points

• City Center Advisors LLC purchased a new position in T. Rowe Price Group, acquiring 3,220 shares for approximately $311,000 during the second quarter.
• Institutional investors and hedge funds now own 73.39% of T. Rowe Price Group's stock, indicating substantial interest from large financial entities.
• T. Rowe Price Group recently declared a quarterly dividend of $1.27 per share, with an ex-dividend date of September 15th, resulting in an annualized dividend yield of 4.8%.

City Center Advisors LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,220 shares of the asset manager's stock, valued at approximately $311,000.

A number of other hedge funds have also modified their holdings of TROW. Invesco Ltd. grew its holdings in shares of T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after acquiring an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after acquiring an additional 519,075 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock valued at $199,367,000 after buying an additional 387,604 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of T. Rowe Price Group by 9,555.5% during the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after buying an additional 329,761 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock valued at $2,414,931,000 after buying an additional 222,556 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TROW. Morgan Stanley lifted their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Evercore ISI reiterated a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Zacks Research downgraded T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group has an average rating of "Reduce" and an average price target of $101.55.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $105.63 on Friday. The business's 50-day moving average price is $105.69 and its two-hundred day moving average price is $97.53. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The company has a market capitalization of $23.21 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. The business's quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $1.27 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group's payout ratio is currently 56.76%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.