Curi RMB Capital LLC Takes Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Curi RMB Capital LLC made a new investment of $284,000 in T. Rowe Price Group, acquiring 3,093 shares during the first quarter.
• T. Rowe Price Group reported a quarterly earnings per share (EPS) of $2.24, beating estimates slightly, while revenue decreased by 0.6% year-over-year.
• The company declared a quarterly dividend of $1.27, with a dividend yield of 4.7%, set to be paid on September 29th.

Curi RMB Capital LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 3,093 shares of the asset manager's stock, valued at approximately $284,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers grew its holdings in shares of T. Rowe Price Group by 4.2% during the 4th quarter. Cetera Investment Advisers now owns 48,865 shares of the asset manager's stock worth $5,526,000 after purchasing an additional 1,948 shares during the period. Deutsche Bank AG grew its holdings in shares of T. Rowe Price Group by 13.0% during the 4th quarter. Deutsche Bank AG now owns 1,006,698 shares of the asset manager's stock worth $113,847,000 after purchasing an additional 115,422 shares during the period. Fiduciary Trust Co grew its holdings in shares of T. Rowe Price Group by 16.3% during the 4th quarter. Fiduciary Trust Co now owns 3,468 shares of the asset manager's stock worth $392,000 after purchasing an additional 485 shares during the period. Gen Wealth Partners Inc grew its holdings in shares of T. Rowe Price Group by 3.1% during the 4th quarter. Gen Wealth Partners Inc now owns 4,651 shares of the asset manager's stock worth $526,000 after purchasing an additional 139 shares during the period. Finally, Jefferies Financial Group Inc. grew its holdings in shares of T. Rowe Price Group by 94.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 22,880 shares of the asset manager's stock worth $2,587,000 after purchasing an additional 11,142 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TROW shares. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Evercore ISI restated a "positive" rating on shares of T. Rowe Price Group in a report on Friday. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a report on Monday, August 4th. Wells Fargo & Company raised their target price on 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. Finally, Barclays restated an "underweight" rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $101.55.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president owned 44,789 shares of the company's stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Down 0.9%

TROW stock traded down $1.02 during trading on Tuesday, hitting $107.15. 1,344,135 shares of the company's stock were exchanged, compared to its average volume of 1,347,287. The business has a 50-day moving average price of $105.34 and a two-hundred day moving average price of $97.48. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.82 and a beta of 1.51. 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 released its quarterly earnings results 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 earnings per share. 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 Announces Dividend

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

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.