Greenspring Advisors LLC Buys Shares of 15,455 T. Rowe Price Group, Inc. $TROW

Greenspring Advisors LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,455 shares of the asset manager’s stock, valued at approximately $1,757,000.

A number of other large investors also recently modified their holdings of TROW. BlackRock Inc. acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $2,728,119,000. Goldman Sachs Group Inc. grew its position in T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the last quarter. First Trust Advisors LP increased its holdings in T. Rowe Price Group by 126.5% in the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock worth $335,894,000 after purchasing an additional 1,832,231 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in T. Rowe Price Group in the 2nd quarter worth about $167,984,000. Finally, Norges Bank bought a new position in T. Rowe Price Group in the fourth quarter valued at about $128,283,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $112.19 on Friday. The company has a market capitalization of $23.93 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 4.37 and a beta of 1.47. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $122.00. The company’s 50 day moving average price is $113.91 and its 200-day moving average price is $102.80.

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

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. T. Rowe Price Group’s dividend payout ratio is 52.16%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. The Goldman Sachs Group lifted their price target on 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. Evercore set a $118.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 10th. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $105.67.

T. Rowe Price Group Company 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.