Vest Financial LLC Increases Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• Vest Financial increased its T. Rowe Price stake by 3.9% in the second quarter, adding 20,743 shares to own 548,644 shares valued at approximately $62.4 million. Institutional investors collectively hold 73.39% of TROW.
• Analyst sentiment remains cautious: TROW has a consensus rating of “Reduce”, with one Strong Buy, nine Holds and four Sells, and an average price target of $105.67 versus the $111.30 opening price.
• T. Rowe Price exceeded quarterly earnings and revenue expectations, reporting $2.57 in EPS and $1.91 billion in revenue. The company also declared a quarterly dividend of $1.30 per share, representing a 4.7% yield.

Vest Financial LLC boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 548,644 shares of the asset manager's stock after buying an additional 20,743 shares during the quarter. Vest Financial LLC owned 0.26% of T. Rowe Price Group worth $62,375,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Nilsine Partners LLC grew its stake in shares of T. Rowe Price Group by 3.2% in the second quarter. Nilsine Partners LLC now owns 4,083 shares of the asset manager's stock worth $464,000 after acquiring an additional 127 shares in the last quarter. Leelyn Smith LLC increased its position in shares of T. Rowe Price Group by 3.4% during the second quarter. Leelyn Smith LLC now owns 28,687 shares of the asset manager's stock worth $3,261,000 after acquiring an additional 946 shares during the period. Signaturefd LLC raised its stake in shares of T. Rowe Price Group by 187.4% in the second quarter. Signaturefd LLC now owns 10,584 shares of the asset manager's stock valued at $1,203,000 after acquiring an additional 6,901 shares in the last quarter. Kesler Norman & Wride LLC raised its stake in shares of T. Rowe Price Group by 0.6% in the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock valued at $1,809,000 after acquiring an additional 96 shares in the last quarter. Finally, PFG Investments LLC purchased a new position in T. Rowe Price Group in the second quarter valued at $364,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analyst Ratings Changes

TROW has been the subject of several analyst reports. Evercore set a $118.00 target price on T. Rowe Price Group in a research note on Monday. TD Cowen increased their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. Zacks Research upgraded T. Rowe Price Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, BMO Capital Markets upped their target price on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a "market perform" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $105.67.

T. Rowe Price Group Trading Down 0.1%

Shares of TROW stock opened at $111.30 on Friday. The firm has a fifty day moving average price of $113.43 and a 200 day moving average price of $102.60. The company has a market cap of $23.74 billion, a P/E ratio of 11.16, a PEG ratio of 4.34 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group's quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $2.24 earnings per share. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 10.13 EPS for the current year.

T. Rowe Price Group Announces Dividend

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

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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