Greenspring Advisors LLC Takes $1.76 Million Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Greenspring Advisors LLC initiated a $1.76 million position in T. Rowe Price Group during the second quarter by purchasing 15,455 shares. Institutional investors and hedge funds collectively own 73.39% of the company.
• Analyst sentiment remains cautious, with 10 analysts rating TROW a hold and four assigning a sell rating. The stock has an average rating of “Reduce” and a consensus price target of $105.67.
• T. Rowe Price exceeded quarterly earnings and revenue expectations, reporting $2.57 in earnings per share and $1.91 billion in revenue. The company also declared a quarterly dividend of $1.30 per share, representing a 4.6% annualized yield.

Greenspring Advisors LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,455 shares of the asset manager's stock, valued at approximately $1,757,000.

A number of other large investors have also added to or reduced their stakes in TROW. TD Private Client Wealth LLC increased its stake in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock worth $26,000 after acquiring an additional 123 shares during the period. DV Equities LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $32,000. Bank & Trust Co lifted its position in shares of T. Rowe Price Group by 52.4% during the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager's stock valued at $36,000 after acquiring an additional 108 shares during the period. Motiv8 Investments LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth $35,000. Finally, Clearstead Trust LLC acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $41,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Ratings Changes

TROW has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a research note on Tuesday, June 30th. TD Cowen increased their price objective on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a "hold" rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. Ten investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Reduce" and a consensus target price of $105.67.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $112.19 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The stock has a market capitalization of $23.93 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 4.37 and a beta of 1.47. The stock has a fifty day moving average of $113.91 and a 200-day moving average of $102.80.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm posted $2.24 earnings per share. T. Rowe Price Group's revenue was up 10.7% compared to the same quarter last year. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group's dividend payout ratio is 52.16%.

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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