Quantbot Technologies LP Takes Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Quantbot Technologies acquired 52,097 shares of T. Rowe Price Group in the second quarter, worth approximately $5.9 million. Institutional investors collectively own 73.39% of the company.
• T. Rowe Price reported quarterly EPS of $2.57, beating estimates by $0.05, while revenue rose 10.7% year over year to $1.91 billion.
• The company declared a quarterly dividend of $1.30 per share, equivalent to an annualized $5.20 payout and a 4.7% yield. Analysts maintain a cautious outlook, with a consensus “Reduce” rating and an average price target of $105.67.

Quantbot Technologies LP bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 52,097 shares of the asset manager's stock, valued at approximately $5,923,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealthcare Capital Partners LLC boosted its stake in shares of T. Rowe Price Group by 1.0% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock worth $1,087,000 after acquiring an additional 93 shares during the period. Kesler Norman & Wride LLC raised its stake in T. Rowe Price Group by 0.6% in the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock valued at $1,809,000 after acquiring an additional 96 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in T. Rowe Price Group by 9.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock valued at $131,000 after acquiring an additional 99 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock valued at $2,259,000 after purchasing an additional 100 shares during the last quarter. Finally, Concorde Asset Management LLC lifted its holdings in T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager's stock valued at $246,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $111.51 on Friday. The firm has a 50-day moving average of $113.94 and a 200-day moving average of $102.87. The stock has a market cap of $23.79 billion, a PE ratio of 11.18, a PEG ratio of 4.34 and a beta of 1.47. 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 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company posted $2.24 earnings per share. T. Rowe Price Group's revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post 10.14 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group's dividend payout ratio is presently 52.16%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective 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. Evercore set a $118.00 target price on shares of T. Rowe Price Group in a report on Monday, August 10th. Zacks Research lowered shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $109.00 price target on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a research report on Wednesday, July 29th. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of "Reduce" and an average target price of $105.67.

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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