Citizens Financial Group Inc. RI Makes New Investment in T. Rowe Price Group, Inc. $TROW

Citizens Financial Group Inc. RI acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,025 shares of the asset manager’s stock, valued at approximately $685,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. TD Private Client Wealth LLC increased its stake in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the last quarter. DV Equities LLC acquired a new stake in T. Rowe Price Group in the 4th quarter worth about $32,000. Motiv8 Investments LLC acquired a new stake in T. Rowe Price Group in the 4th quarter worth about $35,000. Bank & Trust Co grew its holdings in T. Rowe Price Group by 52.4% in the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after buying an additional 108 shares during the period. Finally, TD Waterhouse Canada Inc. grew its holdings in T. Rowe Price Group by 92.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $112.23 on Thursday. The business’s 50-day moving average is $113.83 and its two-hundred day moving average is $102.76. The firm has a market capitalization of $23.94 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 4.29 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business earned $2.24 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.13 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.6%. T. Rowe Price Group’s payout ratio is 52.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TROW shares. 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. TD Cowen upped their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Barclays cut 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 note on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target 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.