Dynamic Technology Lab Private Ltd Increases Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• Dynamic Technology Lab Private Ltd increased its holdings in T. Rowe Price Group by 163.7%, acquiring an additional 5,860 shares for a total worth of $868,000.
• Other major investors, including Vanguard Group and Charles Schwab Investment Management, have also raised their stakes, reflecting a significant institutional interest in T. Rowe Price Group.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27, which translates to an annualized dividend yield of 4.7% and a payout ratio of 56.76%.

Dynamic Technology Lab Private Ltd raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 163.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,440 shares of the asset manager's stock after buying an additional 5,860 shares during the period. Dynamic Technology Lab Private Ltd's holdings in T. Rowe Price Group were worth $868,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cooper Financial Group boosted its position in T. Rowe Price Group by 5.2% during 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 boosted its position in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after buying an additional 113 shares during the period. Associated Banc Corp raised its holdings in T. Rowe Price Group by 0.5% in the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after purchasing an additional 114 shares in the last quarter. Wealthcare Capital Partners LLC raised its holdings in T. Rowe Price Group by 1.2% in the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after purchasing an additional 115 shares in the last quarter. Finally, Cullen Investment Group LTD. raised its holdings in T. Rowe Price Group by 0.9% in the 1st quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock worth $1,245,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

TROW has been the subject of several research reports. Evercore ISI restated a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Morgan Stanley upped their price objective on shares of 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. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. Zacks Research lowered shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and an average price target of $101.55.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $0.06 during trading on Friday, hitting $105.63. The company's stock had a trading volume of 1,122,936 shares, compared to its average volume of 1,425,607. The company has a fifty day simple moving average of $105.69 and a two-hundred day simple moving average of $97.44. The company has a market capitalization of $23.21 billion, a PE ratio of 11.80, a P/E/G ratio of 2.76 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 issued 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. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group's quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $2.26 EPS. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed 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. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's dividend payout ratio is 56.76%.

T. Rowe Price Group 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.