Czech National Bank Acquires 2,718 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• The Czech National Bank increased its stake in T. Rowe Price Group, Inc. by 5.3% during the 2nd quarter, owning 53,853 shares valued at approximately $5.2 million.
• T. Rowe Price Group reported $2.24 EPS for the last quarter, exceeding analysts' expectations, with a net margin of 28.72% and revenues of $1.72 billion.
• The company recently announced a quarterly dividend of $1.27 per share, which translates to an annualized yield of 4.8% and a dividend payout ratio of 56.76%.

Czech National Bank increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,853 shares of the asset manager's stock after purchasing an additional 2,718 shares during the quarter. Czech National Bank's holdings in T. Rowe Price Group were worth $5,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group in the 1st quarter valued at about $27,000. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after purchasing an additional 113 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in T. Rowe Price Group in the first quarter valued at approximately $39,000. Chilton Capital Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $41,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $42,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays reiterated an "underweight" rating and set a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Evercore ISI reiterated a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Finally, Morgan Stanley increased their price objective on 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 investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and an average price target of $101.55.

T. Rowe Price Group Trading Down 0.7%

T. Rowe Price Group stock traded down $0.70 during mid-day trading on Monday, hitting $105.29. The company had a trading volume of 1,174,609 shares, compared to its average volume of 1,562,810. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company has a market capitalization of $23.13 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.75 and a beta of 1.51. The stock's 50 day moving average price is $106.15 and its two-hundred day moving average price is $97.58.

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

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors 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 dividend yield of 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

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.