Erste Asset Management GmbH Raises Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Erste Asset Management GmbH increased its stake in T. Rowe Price Group by 10.9%, owning a total of 60,200 shares valued at approximately $5.5 million.
• T. Rowe Price Group recently reported a quarterly earnings per share (EPS) of $2.24, exceeding analysts' estimates of $2.15, although revenue decreased by 0.6% from the previous year.
• The company announced a quarterly dividend of $1.27, representing an annualized payout of $5.08 and a yield of 4.8%.

Erste Asset Management GmbH lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 10.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,200 shares of the asset manager's stock after buying an additional 5,900 shares during the quarter. Erste Asset Management GmbH's holdings in T. Rowe Price Group were worth $5,513,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in T. Rowe Price Group in the 1st quarter worth about $27,000. Ameriflex Group Inc. acquired a new position in T. Rowe Price Group in the 4th quarter worth about $42,000. Hexagon Capital Partners LLC raised its holdings 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 acquired a new position in T. Rowe Price Group in the 1st quarter worth about $39,000. Finally, Chilton Capital Management LLC acquired a new position in T. Rowe Price Group in the 1st quarter worth about $41,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research analyst reports. Barclays reissued an "underweight" rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. JPMorgan Chase & Co. increased 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. Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Wells Fargo & Company increased 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, Evercore ISI increased their target price on T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Eight analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and a consensus price target of $101.09.

Insider Activity

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on 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 represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

TROW stock opened at $105.76 on Thursday. The business has a 50 day simple moving average of $101.59 and a 200-day simple moving average of $97.73. The firm has a market capitalization of $23.24 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 2.79 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

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, beating analysts' consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion during 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 business's revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.26 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group's dividend payout ratio 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.

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