MBB Public Markets I LLC Takes Position in T. Rowe Price Group, Inc. $TROW

Key Points

• MBB Public Markets I LLC has acquired a new stake in T. Rowe Price Group, Inc., purchasing 3,377 shares valued at approximately $310,000 during the first quarter.
• Several institutional investors, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., have increased their positions in T. Rowe Price Group, collectively owning 73.39% of the company's stock.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, with a dividend yield of 4.8%, and the ex-dividend date set for September 15th.

MBB Public Markets I LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,377 shares of the asset manager's stock, valued at approximately $310,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of T. Rowe Price Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock valued at $2,414,931,000 after purchasing an additional 222,556 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock valued at $707,973,000 after purchasing an additional 519,075 shares during the period. Invesco Ltd. grew its position in shares of T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after purchasing an additional 1,035,865 shares during the period. American Century Companies Inc. grew its position in shares of T. Rowe Price Group by 4.9% in the first quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock valued at $271,541,000 after purchasing an additional 138,515 shares during the period. Finally, Northern Trust Corp grew its position in shares of T. Rowe Price Group by 3.6% in the first quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager's stock valued at $218,105,000 after purchasing an additional 83,324 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $106.64 on Thursday. The firm's 50-day moving average is $105.48 and its two-hundred day moving average is $97.54. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company has a market capitalization of $23.43 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 2.79 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm earned $2.26 earnings per share. T. Rowe Price Group's quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group's payout ratio is 56.76%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Barclays reissued an "underweight" rating and issued a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Keefe, Bruyette & Woods raised their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Evercore ISI reissued a "positive" rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. One 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's stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and a consensus price target of $101.55.

T. Rowe Price Group 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.

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