T. Rowe Price Group, Inc. $TROW Shares Purchased by Poehling Capital Management INC.

Key Points

• Poehling Capital Management increased its stake in T. Rowe Price Group by 54.1% in the first quarter, buying an additional 10,385 shares to hold 29,597 shares worth about $2.67 million.
• T. Rowe Price Group posted better-than-expected quarterly results, with EPS of $2.52 versus estimates of $2.37 and revenue of $1.86 billion, while revenue rose 5.3% year over year.
• The company declared a quarterly dividend of $1.30 per share, equal to an annualized yield of 4.7%, even as analysts remain cautious with an average rating of “Reduce” and a consensus price target of $100.38.

Poehling Capital Management INC. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 54.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,597 shares of the asset manager's stock after purchasing an additional 10,385 shares during the quarter. Poehling Capital Management INC.'s holdings in T. Rowe Price Group were worth $2,668,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Woodline Partners LP grew its stake in shares of T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager's stock valued at $1,728,000 after buying an additional 5,467 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock valued at $1,199,000 after buying an additional 1,250 shares during the period. EverSource Wealth Advisors LLC lifted its stake in T. Rowe Price Group by 44.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager's stock worth $149,000 after acquiring an additional 478 shares in the last quarter. Jump Financial LLC acquired a new position in T. Rowe Price Group during the 2nd quarter worth about $931,000. Finally, Daiwa Securities Group Inc. boosted its holdings in T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager's stock valued at $3,208,000 after acquiring an additional 1,703 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on TROW. Barclays lifted their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a research report on Friday, May 1st. Evercore increased their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. BMO Capital Markets raised their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a "market perform" rating in a research note on Monday, May 4th. TD Cowen lifted their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a "hold" rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group upped their target price on shares of T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of "Reduce" and an average price target of $100.38.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $110.27 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22. The firm has a market capitalization of $23.63 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 5.47 and a beta of 1.50. The business's fifty day moving average price is $103.94 and its 200 day moving average price is $99.95.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.T. Rowe Price Group's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.23 EPS. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.58 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group's payout ratio is presently 55.73%.

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company's stock, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

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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