B. Metzler seel. Sohn & Co. AG Purchases Shares of 13,300 T. Rowe Price Group, Inc. $TROW

Key Points

• B. Metzler seel. Sohn & Co. AG purchased 13,300 shares of T. Rowe Price Group during the second quarter, valued at approximately $1.51 million. Institutional investors and hedge funds collectively own 73.39% of the company.
• T. Rowe Price exceeded quarterly earnings and revenue estimates, reporting $2.57 in EPS and $1.91 billion in revenue, with revenue up 10.7% year over year.
• T. Rowe Price announced a quarterly dividend of $1.30 per share, equivalent to a 4.7% yield. Analysts remain cautious, assigning the stock a consensus “Reduce” rating and an average price target of $105.67.

B. Metzler seel. Sohn & Co. AG purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,300 shares of the asset manager's stock, valued at approximately $1,512,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Woodline Partners LP lifted its holdings in shares of T. Rowe Price Group by 41.0% during the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager's stock worth $1,728,000 after buying an additional 5,467 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock worth $1,199,000 after purchasing an additional 1,250 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager's stock valued at $149,000 after buying an additional 478 shares during the last quarter. Jump Financial LLC acquired a new position in shares of T. Rowe Price Group during the second quarter valued at about $931,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of T. Rowe Price Group by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager's stock valued at $3,208,000 after buying an additional 1,703 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $111.51 on Monday. The stock has a market capitalization of $23.79 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 3.70 and a beta of 1.47. The firm's 50-day moving average price is $113.94 and its two-hundred day moving average price is $102.84. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the business earned $2.24 EPS. T. Rowe Price Group's revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 10.14 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 52.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. TD Cowen upped their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the company a "hold" rating in a report on Monday, August 3rd. BMO Capital Markets lifted their price objective on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Evercore set a $118.00 target price on T. Rowe Price Group in a research note on Monday, August 10th. Finally, The Goldman Sachs Group raised their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a research report on Tuesday, June 30th. Ten analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $105.67.

About T. Rowe Price Group

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.

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