Johnson Financial Group Inc. Makes New Investment in T. Rowe Price Group, Inc. $TROW

Key Points

• Johnson Financial Group purchased 21,922 shares of T. Rowe Price Group in the second quarter, valued at approximately $2.49 million. Institutional investors collectively own 73.39% of the company.
• Analyst sentiment remains cautious, with ten analysts rating the stock a Hold and four rating it Sell. The consensus rating is “Reduce,” with an average price target of $105.67.
• T. Rowe Price exceeded quarterly earnings and revenue estimates, reporting $2.57 in EPS and $1.91 billion in revenue. The company declared a quarterly dividend of $1.30 per share, representing a 4.6% yield.

Johnson Financial Group Inc. purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,922 shares of the asset manager's stock, valued at approximately $2,492,000.

Several other large investors have also recently modified their holdings of TROW. TD Private Client Wealth LLC grew its position 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 valued at $26,000 after purchasing an additional 123 shares during the last quarter. DV Equities LLC purchased a new position in T. Rowe Price Group in the fourth quarter worth about $32,000. Bank & Trust Co raised its holdings in T. Rowe Price Group by 52.4% in the second quarter. Bank & Trust Co now owns 314 shares of the asset manager's stock worth $36,000 after buying an additional 108 shares during the last quarter. Motiv8 Investments LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter worth approximately $35,000. Finally, Clearstead Trust LLC bought a new position in shares of T. Rowe Price Group in the second quarter worth approximately $41,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TROW shares. The Goldman Sachs Group raised their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a research report on Tuesday, June 30th. BMO Capital Markets upped their price objective on T. Rowe Price Group from $110.00 to $120.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Evercore set a $118.00 target price on T. Rowe Price Group in a research note on Monday, August 10th. Zacks Research lowered T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Finally, Barclays decreased their price target on T. Rowe Price Group from $108.00 to $103.00 and set an "underweight" rating for the company in a research note on Monday, August 3rd. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $105.67.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $112.23 on Thursday. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 4.29 and a beta of 1.47. The stock's 50-day simple moving average is $113.83 and its two-hundred day simple moving average is $102.76. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the company posted $2.24 EPS. The business's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

T. Rowe Price Group Company 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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