T. Rowe Price Group, Inc. $TROW Shares Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management Inc. increased its stake in T. Rowe Price Group, Inc. by 136.3%, acquiring an additional 19,331 shares during the second quarter, now holding a total of 33,517 shares valued at approximately $3.23 million.
• T. Rowe Price reported a quarterly earnings per share (EPS) of $2.24, surpassing analysts' expectations of $2.15, although revenue decreased by 0.6% year-over-year.
• The company's most recent dividend was $1.27 per share, with a dividend yield of 4.8% and a payout ratio of 56.76% as of September 29th.

QRG Capital Management Inc. increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 136.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,517 shares of the asset manager's stock after acquiring an additional 19,331 shares during the period. QRG Capital Management Inc.'s holdings in T. Rowe Price Group were worth $3,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TROW. Invesco Ltd. grew its stake in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after buying an additional 519,075 shares in the last quarter. Vanguard Group Inc. boosted its holdings in T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after buying an additional 222,556 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in T. Rowe Price Group by 505.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager's stock valued at $15,867,000 after buying an additional 144,187 shares during the period. Finally, American Century Companies Inc. increased its holdings in 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 buying an additional 138,515 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $105.69 on Tuesday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The firm has a market capitalization of $23.22 billion, a PE ratio of 11.81, a P/E/G ratio of 6.68 and a beta of 1.50. The business's 50 day moving average price is $105.71 and its 200-day moving average price is $98.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm posted $2.26 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group's payout ratio is currently 56.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their target price 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. Bank of America increased their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an "underperform" rating in a research report on Thursday, October 2nd. Evercore ISI reissued a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. 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 note on Monday, August 4th. Finally, Morgan Stanley increased their target price on T. Rowe Price Group from $116.00 to $125.00 and gave the company a "positive" rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and an average price target of $104.83.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

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.

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