IFM Investors Pty Ltd Purchases 2,797 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• IFM Investors Pty Ltd increased its stake in T. Rowe Price Group, Inc. by 7.1%, owning 41,932 shares valued at approximately $4.05 million after purchasing additional shares.
• T. Rowe Price Group reported earnings of $2.24 per share for the last quarter, exceeding analysts' expectations of $2.15, with revenue matching consensus estimates at $1.72 billion.
• The company declared a quarterly dividend of $1.27 per share, representing an annualized yield of 4.8%, with a payout ratio of 56.76%.

IFM Investors Pty Ltd lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,932 shares of the asset manager's stock after purchasing an additional 2,797 shares during the period. IFM Investors Pty Ltd's holdings in T. Rowe Price Group were worth $4,046,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TROW. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at approximately $27,000. Hexagon Capital Partners LLC increased 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 worth $34,000 after buying an additional 113 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in shares of T. Rowe Price Group during the first quarter worth approximately $39,000. Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $41,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth $42,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Evercore ISI restated a "positive" rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Morgan Stanley boosted their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company raised their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $101.55.

T. Rowe Price Group Trading Down 0.7%

Shares of TROW stock traded down $0.70 during trading hours on Monday, hitting $105.29. 1,174,609 shares of the company were exchanged, compared to its average volume of 1,562,810. The firm has a fifty day simple moving average of $106.09 and a 200 day simple moving average of $97.55. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 2.75 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share 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 company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm posted $2.26 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $1.27 dividend. 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 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.