RBO & Co. LLC Buys 6,480 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• RBO & Co. LLC increased its stake in T. Rowe Price Group by 7.8%, acquiring an additional 6,480 shares, bringing their total ownership to 89,098 shares valued at approximately $8.18 million.
• T. Rowe Price Group reported earnings of $2.24 per share, exceeding analyst expectations, while quarterly revenue remained stable at $1.72 billion.
• The company declared a quarterly dividend of $1.27 per share, indicating a yield of 4.7% and a dividend payout ratio of 56.76%.

RBO & Co. LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,098 shares of the asset manager's stock after buying an additional 6,480 shares during the quarter. RBO & Co. LLC's holdings in T. Rowe Price Group were worth $8,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of TROW. Vanguard Group Inc. lifted 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 worth $2,414,931,000 after purchasing an additional 222,556 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock valued at $707,973,000 after buying an additional 519,075 shares during the period. Invesco Ltd. lifted its position in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after buying an additional 1,035,865 shares in the last quarter. American Century Companies Inc. lifted its position in T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock worth $271,541,000 after buying an additional 138,515 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of T. Rowe Price Group by 3.6% during the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager's stock valued at $218,105,000 after buying an additional 83,324 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

TROW has been the topic of a number of research reports. JPMorgan Chase & Co. upped 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. Evercore ISI boosted their target price on T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Barclays reiterated an "underweight" rating and set a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Finally, Wells Fargo & Company boosted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Eight analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $101.09.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $1.10 on Tuesday, reaching $108.56. The stock had a trading volume of 1,531,026 shares, compared to its average volume of 1,455,779. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a market cap of $23.85 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 2.82 and a beta of 1.47. The business's 50-day moving average price is $102.41 and its two-hundred day moving average price is $97.40.

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

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given 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 dividend yield of 4.7%. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

T. Rowe Price Group Company 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.