Brandywine Global Investment Management LLC Has $10.35 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Brandywine Global Investment Management LLC has reduced its holdings in T. Rowe Price Group, Inc. by 37.4%, now owning approximately 112,645 shares worth about $10.35 million.
• The company recently reported earnings of $2.24 per share, exceeding analyst expectations of $2.15, despite a 0.6% decline in revenue from the prior year.
• T. Rowe Price Group declared a quarterly dividend of $1.27 per share, which represents an annualized yield of 4.7% and reflects a payout ratio of 56.76%.

Brandywine Global Investment Management LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 37.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,645 shares of the asset manager's stock after selling 67,312 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.05% of T. Rowe Price Group worth $10,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cooper Financial Group boosted its position in T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock valued at $205,000 after buying an additional 110 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after acquiring an additional 113 shares in the last quarter. Associated Banc Corp boosted its holdings in shares of T. Rowe Price Group by 0.5% in the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock valued at $2,284,000 after purchasing an additional 114 shares during the period. Wealthcare Capital Partners LLC grew its position in shares of T. Rowe Price Group by 1.2% during the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after buying an additional 115 shares in the last quarter. Finally, Cullen Investment Group LTD. raised its holdings in shares of T. Rowe Price Group by 0.9% in the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after acquiring an additional 117 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TROW has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Barclays reaffirmed an "underweight" rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Finally, Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Eight equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $101.09.

T. Rowe Price Group Price Performance

Shares of TROW stock traded up $4.2390 during trading hours on Friday, reaching $108.7690. 269,863 shares of the company's stock were exchanged, compared to its average volume of 1,781,718. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company's 50 day moving average is $101.79 and its two-hundred day moving average is $97.65. The company has a market cap of $23.90 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 2.77 and a beta of 1.47.

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

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's payout ratio is 56.76%.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.

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.