9,358 Shares in T. Rowe Price Group, Inc. $TROW Purchased by Arvest Investments Inc.

Key Points

• Arvest Investments Inc. acquired 9,358 shares of T. Rowe Price Group, valued at approximately $903,000, marking a new stake in the asset manager.
• T. Rowe Price Group reported $2.24 EPS for the last quarter, surpassing analysts' estimates of $2.15, with revenues slightly down by 0.6% year-over-year.
• The company announced a quarterly dividend of $1.27 per share, with an annualized dividend yield of 4.8%, payable on September 29th.

Arvest Investments Inc. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,358 shares of the asset manager's stock, valued at approximately $903,000.

Several other large investors also recently added to or reduced their stakes in TROW. Nuveen Asset Management LLC boosted its position in T. Rowe Price Group by 1.8% in the 4th quarter. Nuveen Asset Management LLC now owns 627,389 shares of the asset manager's stock valued at $70,951,000 after buying an additional 11,308 shares during the period. Nomura Holdings Inc. boosted its position in T. Rowe Price Group by 55.6% in the 4th quarter. Nomura Holdings Inc. now owns 17,206 shares of the asset manager's stock valued at $1,946,000 after buying an additional 6,150 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in T. Rowe Price Group by 0.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 28,924 shares of the asset manager's stock valued at $3,346,000 after buying an additional 174 shares during the period. Man Group plc boosted its position in T. Rowe Price Group by 2.8% in the 4th quarter. Man Group plc now owns 43,330 shares of the asset manager's stock valued at $4,900,000 after buying an additional 1,173 shares during the period. Finally, Mufg Securities Americas Inc. purchased a new stake in T. Rowe Price Group in the 4th quarter valued at about $371,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 0.1%

NASDAQ TROW opened at $105.63 on Friday. The firm has a market cap of $23.21 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51. The company has a 50 day moving average price of $105.69 and a 200 day moving average price of $97.48. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

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

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's payout ratio is 56.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Evercore ISI restated a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Wells Fargo & Company boosted their price target on shares of 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. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of 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 analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $101.55.

T. Rowe Price Group 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.

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