Lynx Investment Advisory Acquires Shares of 5,226 T. Rowe Price Group, Inc. $TROW

Key Points

• Lynx Investment Advisory has acquired 5,226 shares of T. Rowe Price Group, worth approximately $480,000, in the first quarter.
• Institutional investors own 73.39% of T. Rowe Price Group, with several firms adjusting their stakes and positions in the company recently.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, reflecting a 4.8% yield, with the ex-dividend date set for September 15th.

Lynx Investment Advisory acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 5,226 shares of the asset manager's stock, valued at approximately $480,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in T. Rowe Price Group in the 1st quarter valued at $1,759,000. Ellsworth Advisors LLC raised its holdings in T. Rowe Price Group by 6.6% in the 1st quarter. Ellsworth Advisors LLC now owns 44,771 shares of the asset manager's stock valued at $4,113,000 after acquiring an additional 2,785 shares in the last quarter. Jacobi Capital Management LLC increased its stake in shares of T. Rowe Price Group by 37.0% in the 1st quarter. Jacobi Capital Management LLC now owns 4,025 shares of the asset manager's stock valued at $370,000 after purchasing an additional 1,087 shares during the last quarter. Belpointe Asset Management LLC increased its stake in shares of T. Rowe Price Group by 18.9% in the 1st quarter. Belpointe Asset Management LLC now owns 3,931 shares of the asset manager's stock valued at $361,000 after purchasing an additional 626 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in shares of T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock valued at $1,199,000 after purchasing an additional 1,250 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research lowered T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday. Barclays reiterated an "underweight" rating and issued a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. Morgan Stanley lifted 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, Evercore ISI reiterated a "positive" rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and a consensus target price of $101.55.

T. Rowe Price Group Stock Down 0.9%

Shares of TROW stock opened at $105.69 on Friday. The firm has a market capitalization of $23.22 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.78 and a beta of 1.51. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The stock's fifty day simple moving average is $105.58 and its 200 day simple moving average is $97.54.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for 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%.T. Rowe Price Group's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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 dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group's payout ratio is presently 56.76%.

About T. Rowe Price Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.