Allianz Asset Management GmbH Has $59.38 Million Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Allianz Asset Management GmbH increased its stake in T. Rowe Price Group by 30.3% in Q2, now holding $59.38 million worth of shares.
• T. Rowe Price reported quarterly earnings of $2.24 per share, exceeding estimates by $0.09, while revenue was down 0.6% from the previous year.
• The company declared a quarterly dividend of $1.27 per share, resulting in an annualized yield of 4.9%, and its dividend payout ratio stands at 56.76%.

Allianz Asset Management GmbH grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 30.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 615,354 shares of the asset manager's stock after acquiring an additional 143,149 shares during the period. Allianz Asset Management GmbH owned 0.28% of T. Rowe Price Group worth $59,382,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TROW. Zions Bancorporation National Association UT acquired a new stake in T. Rowe Price Group during the 1st quarter worth about $27,000. Hexagon Capital Partners LLC grew its holdings in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth about $39,000. Chilton Capital Management LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth about $41,000. Finally, Cromwell Holdings LLC boosted its position in shares of T. Rowe Price Group by 3,483.3% during the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager's stock worth $41,000 after purchasing an additional 418 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $103.70 on Friday. 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 has a market cap of $22.78 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 5.66 and a beta of 1.50. The firm's 50-day simple moving average is $105.78 and its 200 day simple moving average is $98.84.

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

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TROW. Evercore ISI increased their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an "in-line" rating in a research report on Thursday, October 9th. Zacks Research raised shares of T. Rowe Price Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 10th. TD Cowen increased their price objective on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the stock a "hold" rating in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the stock a "sell" rating in a research report on Friday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a "hold" rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $106.92.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company's stock.

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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