MSH Capital Advisors LLC Makes New Investment in T. Rowe Price Group, Inc. $TROW

Key Points

• MSH Capital Advisors initiated a position in T. Rowe Price Group during the second quarter, purchasing 19,447 shares valued at approximately $2.21 million. Institutional investors collectively own 73.39% of the company.
• Analysts remain cautious, with TROW carrying a consensus rating of “Reduce” and an average price target of $105.67, below its reported opening price of $112.23.
• T. Rowe Price exceeded quarterly expectations, reporting $2.57 in EPS and $1.91 billion in revenue, while declaring a $1.30 quarterly dividend, representing a 4.6% annualized yield.

MSH Capital Advisors LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 19,447 shares of the asset manager's stock, valued at approximately $2,211,000.

Several other large investors have also recently made changes to their positions in TROW. Wealthcare Capital Partners LLC grew its position in T. Rowe Price Group by 1.0% during the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock valued at $1,087,000 after buying an additional 93 shares during the period. Kesler Norman & Wride LLC increased its holdings in T. Rowe Price Group by 0.6% during the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock worth $1,809,000 after buying an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in T. Rowe Price Group by 9.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock worth $131,000 after acquiring an additional 99 shares during the period. Oregon Public Employees Retirement Fund raised its position in T. Rowe Price Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock worth $2,259,000 after acquiring an additional 100 shares during the period. Finally, Concorde Asset Management LLC boosted its stake in T. Rowe Price Group by 3.9% in the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager's stock valued at $246,000 after acquiring an additional 102 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated a "market perform" rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a research note on Friday, April 24th. TD Cowen increased their price objective on T. Rowe Price Group from $107.00 to $108.00 and gave the company a "hold" rating in a report on Monday, August 3rd. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $109.00 target price on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Ten investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $105.67.

T. Rowe Price Group Stock Up 1.7%

TROW opened at $112.23 on Thursday. The company 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 firm has a 50-day moving average price of $113.83 and a 200-day moving average price of $102.76. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00.

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, beating the consensus estimate of $2.52 by $0.05. The company 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 company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.24 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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