Kinloch Capital LLC Makes New $5.32 Million Investment in T. Rowe Price Group, Inc. $TROW

Key Points

• Kinloch Capital initiated a $5.32 million position in T. Rowe Price Group during the second quarter, purchasing 46,798 shares; institutional investors collectively own 73.39% of the stock.
• Analyst sentiment remains cautious, with 10 analysts rating the stock a Hold and four rating it a Sell. The consensus rating is “Reduce,” with an average price target of $105.67 versus the reported opening price of $112.30.
• T. Rowe Price exceeded quarterly expectations, reporting $2.57 in EPS and $1.91 billion in revenue, while revenue grew 10.7% year over year. The company also declared a $1.30 quarterly dividend, equivalent to a 4.6% annualized yield.

Kinloch Capital LLC purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,798 shares of the asset manager's stock, valued at approximately $5,320,000. T. Rowe Price Group makes up approximately 1.9% of Kinloch Capital LLC's portfolio, making the stock its 12th largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC lifted its position in T. Rowe Price Group by 77.5% in the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager's stock valued at $3,788,000 after purchasing an additional 16,155 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of T. Rowe Price Group by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager's stock worth $54,489,000 after acquiring an additional 18,952 shares during the period. Generali Asset Management SPA SGR boosted its holdings in shares of T. Rowe Price Group by 1,680.4% in the fourth quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager's stock valued at $1,814,000 after acquiring an additional 16,720 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $5,935,000. Finally, Norges Bank acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $128,283,000. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. BMO Capital Markets lifted their price target 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. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, Zacks Research cut T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Ten equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $105.67.

T. Rowe Price Group Price Performance

TROW stock opened at $112.30 on Tuesday. The firm has a market cap of $23.96 billion, a PE ratio of 11.26, a P/E/G ratio of 3.70 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The firm has a 50 day simple moving average of $114.02 and a 200 day simple moving average of $102.91.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.24 earnings per share. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.14 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

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

About T. Rowe Price Group

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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