Dimensional Fund Advisors LP Acquires 37,642 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Dimensional Fund Advisors LP increased its T. Rowe Price Group stake by 1.8% in the first quarter, buying 37,642 additional shares and bringing its total holding to 2,124,696 shares, worth about $191.5 million.
• T. Rowe Price Group’s latest quarter topped expectations, with EPS of $2.52 versus $2.37 expected and revenue of $1.86 billion, up 5.3% year over year.
• The company also paid a quarterly dividend of $1.30 per share, annualizing to $5.20 for a yield of about 4.5%, while analysts currently have a consensus rating of “Reduce” with an average price target of $104.50.

Dimensional Fund Advisors LP lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,124,696 shares of the asset manager's stock after acquiring an additional 37,642 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.99% of T. Rowe Price Group worth $191,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Woodline Partners LP grew its holdings in 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 purchasing an additional 5,467 shares during the period. Focus Partners Wealth increased its holdings in shares of T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock valued at $1,199,000 after purchasing an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of T. Rowe Price Group by 44.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager's stock valued at $149,000 after purchasing an additional 478 shares during the last quarter. Jump Financial LLC bought a new position in shares of T. Rowe Price Group in 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% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager's stock worth $3,208,000 after buying an additional 1,703 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Buying and Selling

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on T. Rowe Price Group from $107.00 to $120.00 and gave the stock a "market perform" rating in a report on Friday, July 10th. The Goldman Sachs Group upped their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a report on Tuesday, June 30th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $108.00 to $107.00 and set a "hold" rating on the stock in a research report on Monday. BMO Capital Markets boosted their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a "market perform" rating in a report on Monday, May 4th. Finally, Evercore set a $121.00 target price on shares of T. Rowe Price Group in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $104.50.

T. Rowe Price Group Trading Up 1.3%

Shares of NASDAQ TROW opened at $116.50 on Friday. The company has a market cap of $24.96 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 4.12 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $121.17. The stock has a 50-day moving average price of $110.18 and a two-hundred day moving average price of $101.77.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the firm posted $2.23 EPS. The firm's revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group's dividend payout ratio (DPR) is 55.73%.

T. Rowe Price Group Profile

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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