TCM Advisors LLC Invests $1.07 Million in T. Rowe Price Group, Inc. $TROW

Key Points

• TCM Advisors LLC acquired 9,418 shares of T. Rowe Price Group worth approximately $1.07 million, while institutional investors and hedge funds collectively own 73.39% of the company.
• Analyst sentiment remains cautious: TROW has an average rating of “Reduce”, with 10 analysts rating it a hold and four rating it a sell; the average price target is $105.67.
• T. Rowe Price reported quarterly earnings of $2.57 per share and revenue of $1.91 billion, exceeding estimates, while declaring a $1.30 quarterly dividend, representing a 4.7% annualized yield.

TCM Advisors LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,418 shares of the asset manager's stock, valued at approximately $1,071,000. T. Rowe Price Group makes up approximately 0.1% of TCM Advisors LLC's holdings, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. SVB Wealth LLC raised its holdings in T. Rowe Price Group by 77.5% during the fourth quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager's stock worth $3,788,000 after acquiring an additional 16,155 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in T. Rowe Price Group by 3.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager's stock valued at $54,489,000 after purchasing an additional 18,952 shares in the last quarter. Generali Asset Management SPA SGR grew its stake in T. Rowe Price Group by 1,680.4% in the fourth quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager's stock valued at $1,814,000 after purchasing an additional 16,720 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in T. Rowe Price Group in the fourth quarter valued at approximately $5,935,000. Finally, Norges Bank acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $128,283,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of analyst reports. TD Cowen upped their price objective on T. Rowe Price Group from $107.00 to $108.00 and gave the stock a "hold" rating in a research note on Monday, August 3rd. Evercore set a $118.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 10th. The Goldman Sachs Group boosted their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a report on Tuesday, June 30th. BMO Capital Markets upped their price target on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. Finally, Barclays cut their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an "underweight" rating for the company in a research note on Monday, August 3rd. Ten research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $105.67.

T. Rowe Price Group Price Performance

TROW stock opened at $111.51 on Monday. The stock has a market capitalization of $23.79 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 3.70 and a beta of 1.47. The business's fifty day moving average price is $113.94 and its two-hundred day moving average price is $102.84. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm earned $2.24 earnings per share. The company's revenue was up 10.7% on a year-over-year basis. Research analysts expect that T. Rowe Price Group, Inc. will post 10.14 EPS for the current year.

T. Rowe Price Group Dividend Announcement

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

T. Rowe Price Group 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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