Cwm LLC raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,094 shares of the asset manager’s stock after buying an additional 1,341 shares during the period. Cwm LLC’s holdings in T. Rowe Price Group were worth $17,075,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at $2,759,000. FMR LLC raised its stake in shares of T. Rowe Price Group by 135.4% in the fourth quarter. FMR LLC now owns 267,385 shares of the asset manager’s stock valued at $20,123,000 after buying an additional 153,787 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of T. Rowe Price Group by 5.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,558 shares of the asset manager’s stock valued at $644,000 after buying an additional 430 shares in the last quarter. Hendley & Co. Inc. raised its stake in shares of T. Rowe Price Group by 1.0% in the fourth quarter. Hendley & Co. Inc. now owns 16,337 shares of the asset manager’s stock valued at $1,230,000 after buying an additional 165 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of T. Rowe Price Group by 73.1% in the fourth quarter. Teachers Advisors LLC now owns 602,281 shares of the asset manager’s stock valued at $45,328,000 after buying an additional 254,363 shares in the last quarter. 71.26% of the stock is currently owned by institutional investors and hedge funds.
T. Rowe Price Group, Inc. (TROW) traded down 0.09% during midday trading on Monday, reaching $80.16. The company’s stock had a trading volume of 1,137,684 shares. T. Rowe Price Group, Inc. has a 52-week low of $62.97 and a 52-week high of $80.64. The firm has a 50-day moving average price of $72.04 and a 200 day moving average price of $71.72. The stock has a market capitalization of $19.34 billion, a price-to-earnings ratio of 15.70 and a beta of 1.22.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, April 25th. The asset manager reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.02. T. Rowe Price Group had a net margin of 29.59% and a return on equity of 24.24%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company earned $1.15 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post $5.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were paid a dividend of $0.57 per share. The ex-dividend date was Tuesday, June 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.84%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 44.88%.
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TROW has been the subject of several research analyst reports. TheStreet raised T. Rowe Price Group from a “c+” rating to a “b-” rating in a report on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and issued a $84.00 target price on shares of T. Rowe Price Group in a research note on Monday, March 27th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Wednesday, June 28th. Deutsche Bank AG restated a “hold” rating and issued a $71.00 target price (down from $74.00) on shares of T. Rowe Price Group in a research note on Monday, May 1st. Finally, Argus downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $72.45.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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