Vise Technologies Inc. Invests $3.99 Million in T. Rowe Price Group, Inc. $TROW

Key Points

• Vise Technologies acquired 35,079 shares of T. Rowe Price Group during the second quarter, worth approximately $3.99 million. Institutional investors collectively own 73.39% of TROW.
• T. Rowe Price exceeded quarterly expectations, reporting $2.57 EPS versus a $2.52 consensus estimate and $1.91 billion in revenue, up 10.7% year over year.
• The company declared a quarterly dividend of $1.30, equivalent to $5.20 annually and a 4.6% yield. Despite the dividend appeal, analysts remain cautious, with a consensus “Reduce” rating and a $105.67 price target.

Vise Technologies Inc. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 35,079 shares of the asset manager's stock, valued at approximately $3,988,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TROW. MSH Capital Advisors LLC bought a new position in shares of T. Rowe Price Group in the second quarter worth about $2,211,000. Aurora Investment Counsel acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $468,000. Northcape Wealth Management LLC acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $459,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $736,000. Finally, Csenge Advisory Group bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $217,000. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Down 0.0%

TROW opened at $112.19 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The company has a fifty day moving average of $113.91 and a 200-day moving average of $102.80. The stock has a market cap of $23.93 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 4.37 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.05. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. T. Rowe Price Group's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.24 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.6%. T. Rowe Price Group's dividend payout ratio (DPR) is 52.16%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a research note on Tuesday, June 30th. BMO Capital Markets increased their price target on T. Rowe Price Group from $110.00 to $120.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. Evercore set a $118.00 price objective on T. Rowe Price Group in a report on Monday, August 10th. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating for the company in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $109.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $105.67.

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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