Yousif Capital Management LLC Increases Stock Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Yousif Capital Management LLC increased its stake in T. Rowe Price Group by 3.7%, owning 90,131 shares valued at approximately $8.7 million.
• T. Rowe Price Group recently reported $2.24 earnings per share for the last quarter, exceeding estimates of $2.15, but saw a 0.6% decrease in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.27 per share, resulting in an annual yield of 4.8% and a payout ratio of 56.76%.

Yousif Capital Management LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,131 shares of the asset manager's stock after acquiring an additional 3,187 shares during the period. Yousif Capital Management LLC's holdings in T. Rowe Price Group were worth $8,698,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in T. Rowe Price Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock valued at $2,414,931,000 after purchasing an additional 222,556 shares during the period. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock valued at $707,973,000 after purchasing an additional 519,075 shares during the period. Invesco Ltd. increased its stake in T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after purchasing an additional 1,035,865 shares during the period. American Century Companies Inc. increased its stake in T. Rowe Price Group by 4.9% in the first quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock valued at $271,541,000 after purchasing an additional 138,515 shares during the period. Finally, Northern Trust Corp increased its stake in T. Rowe Price Group by 3.6% in the first quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager's stock valued at $218,105,000 after purchasing an additional 83,324 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 3.9%

Shares of TROW opened at $105.36 on Tuesday. The firm's 50-day moving average is $105.81 and its two-hundred day moving average is $98.58. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market capitalization of $23.15 billion, a P/E ratio of 11.77, a PEG ratio of 6.51 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $2.26 earnings per share. The firm's revenue for the quarter was down .6% compared to the same quarter last year. Analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group's dividend payout ratio is presently 56.76%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TROW shares. BMO Capital Markets started coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They issued a "market perform" rating and a $108.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the company a "positive" rating in a research note on Monday, October 6th. Keefe, Bruyette & Woods increased their price target on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the stock a "market perform" rating in a report on Monday. Jefferies Financial Group increased their price target on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a "hold" rating in a report on Tuesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a "hold" rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $106.38.

T. Rowe Price Group Company 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.

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