Raiffeisen Bank International AG Raises Holdings in T. Rowe Price Group, Inc. $TROW

Raiffeisen Bank International AG increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15,852.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 23,929 shares of the asset manager’s stock after buying an additional 23,779 shares during the quarter. Raiffeisen Bank International AG’s holdings in T. Rowe Price Group were worth $2,737,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthcare Capital Partners LLC increased its position in T. Rowe Price Group by 1.0% during the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock worth $1,087,000 after buying an additional 93 shares in the last quarter. Kesler Norman & Wride LLC lifted its position 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. MassMutual Private Wealth & Trust FSB lifted its position in shares of T. Rowe Price Group by 9.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock valued at $131,000 after acquiring an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after acquiring an additional 100 shares during the last quarter. Finally, Concorde Asset Management LLC boosted its stake in shares of T. Rowe Price Group by 3.9% during the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In related news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $109.78 on Friday. The firm has a market capitalization of $23.42 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 3.67 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The company’s 50 day moving average price is $114.64 and its 200 day moving average price is $103.88.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $2.24 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.16 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently commented on TROW. UBS Group set a $110.00 price objective on T. Rowe Price Group in a research report on Monday. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed 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. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, BMO Capital Markets upped their price objective on shares of 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. Ten research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $106.15.

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.