9,418 Shares in T. Rowe Price Group, Inc. $TROW Acquired by TCM Advisors LLC

TCM Advisors LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 9,418 shares of the asset manager’s stock, valued at approximately $1,071,000. T. Rowe Price Group comprises 0.1% of TCM Advisors LLC’s portfolio, making the stock its 18th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cibc World Market Inc. bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $5,583,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $4,605,000. Osmosis Investment Management UK Ltd bought a new position in shares of T. Rowe Price Group in the second quarter worth $531,000. Sanctuary Advisors LLC bought a new position in shares of T. Rowe Price Group in the second quarter worth $1,668,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in T. Rowe Price Group in the second quarter valued at about $4,823,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $111.51 on Monday. The company’s 50 day moving average price is $113.94 and its two-hundred day moving average price is $102.84. The firm has a market capitalization of $23.79 billion, a P/E ratio of 11.18, a P/E/G ratio of 3.70 and a beta of 1.47. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results 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 prior year, the business earned $2.24 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group, Inc. will post 10.14 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group’s payout ratio is currently 52.16%.

Wall Street Analyst Weigh In

TROW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. The Goldman Sachs Group boosted their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, Barclays reduced their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research 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 stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group 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.