T. Rowe Price Group, Inc. $TROW Shares Bought by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd increased its stake in T. Rowe Price Group by 15.1%, acquiring an additional 3,493 shares to bring total holdings to 26,585 shares valued at $2,442,000.
• Multiple analysts have updated their price targets for T. Rowe Price Group, with Morgan Stanley raising its target from $112.00 to $116.00 and JPMorgan Chase boosting theirs from $98.00 to $102.00.
• T. Rowe Price Group announced a quarterly dividend of $1.27, which will be paid on September 29th, representing an annualized yield of 4.7%.

UniSuper Management Pty Ltd grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,585 shares of the asset manager's stock after buying an additional 3,493 shares during the quarter. UniSuper Management Pty Ltd's holdings in T. Rowe Price Group were worth $2,442,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TROW. Zions Bancorporation National Association UT purchased a new position in T. Rowe Price Group in the first quarter worth about $27,000. Ameriflex Group Inc. purchased a new position in T. Rowe Price Group in the fourth quarter worth about $42,000. Hexagon Capital Partners LLC raised its holdings in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in T. Rowe Price Group in the first quarter worth about $39,000. Finally, Chilton Capital Management LLC purchased a new position in T. Rowe Price Group in the first quarter worth about $41,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

Shares of TROW traded down $0.06 during midday trading on Friday, hitting $105.63. The stock had a trading volume of 1,122,936 shares, compared to its average volume of 1,429,752. 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 cap of $23.21 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51. The stock's 50 day moving average is $105.69 and its 200 day moving average is $97.53.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 earnings per share. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 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 Monday, September 29th. Shareholders 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 yield of 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TROW. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods boosted their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Evercore ISI restated a "positive" rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Finally, Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price 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.