AG2R LA Mondiale Gestion D Actifs Makes New $899,000 Investment in T. Rowe Price Group, Inc. $TROW

Key Points

• AG2R LA Mondiale Gestion D Actifs has made a new investment of approximately $899,000 in T. Rowe Price Group, acquiring 9,604 shares in the first quarter.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, with an upcoming payment date of September 29th, representing an annual yield of 4.8%.
• The stock has a current market capitalization of $23.21 billion and a P/E ratio of 11.80, with analysts projecting an average earnings per share of $9.29 for the current year.

AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,604 shares of the asset manager's stock, valued at approximately $899,000.

Other hedge funds have also recently modified their holdings of the company. Nuveen Asset Management LLC lifted its stake in shares of 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 purchasing an additional 11,308 shares during the period. Man Group plc increased its holdings in T. Rowe Price Group by 2.8% in the fourth 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 in the last quarter. Quantinno Capital Management LP increased its holdings in T. Rowe Price Group by 64.3% in the fourth quarter. Quantinno Capital Management LP now owns 30,377 shares of the asset manager's stock valued at $3,435,000 after buying an additional 11,890 shares in the last quarter. Royal Bank of Canada raised its position in shares of T. Rowe Price Group by 5.6% in the fourth quarter. Royal Bank of Canada now owns 634,511 shares of the asset manager's stock worth $71,756,000 after acquiring an additional 33,453 shares during the period. Finally, Silvercrest Asset Management Group LLC boosted its stake in shares of T. Rowe Price Group by 3,824.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 76,456 shares of the asset manager's stock worth $8,646,000 after acquiring an additional 74,508 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $105.63 on Monday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock's fifty day moving average is $105.69 and its two-hundred day moving average is $97.44. The firm has a market capitalization of $23.21 billion, a P/E ratio of 11.80, a PEG 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. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.26 earnings per share. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued 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 currently 56.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Evercore ISI restated a "positive" rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Zacks Research lowered T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Wells Fargo & Company lifted 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 research note on Friday, July 11th. Finally, Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $101.55.

About T. Rowe Price Group

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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