Quantbot Technologies LP Takes Position in T. Rowe Price Group, Inc. $TROW

Quantbot Technologies LP bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, HoldingsChannel reports. The fund bought 52,097 shares of the asset manager’s stock, valued at approximately $5,923,000.

A number of other hedge funds also recently modified their holdings of TROW. Westpac Banking Corp acquired a new position in T. Rowe Price Group in the second quarter valued at about $5,267,000. Korea Investment CORP acquired a new stake in T. Rowe Price Group during the second quarter worth about $11,343,000. EP Wealth Advisors LLC acquired a new stake in T. Rowe Price Group during the second quarter worth about $684,000. Callan Family Office LLC bought a new position in T. Rowe Price Group in the 2nd quarter valued at about $518,000. Finally, Keating Financial Advisory Services Inc. bought a new position in T. Rowe Price Group in the 2nd quarter valued at about $39,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.6%

TROW stock opened at $111.51 on Friday. The firm has a 50-day moving average price of $113.94 and a 200-day moving average price of $102.87. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The stock has a market capitalization of $23.79 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 4.34 and a beta of 1.47.

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, beating the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.24 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 10.14 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TROW. 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. Barclays decreased their price objective 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. Evercore set a $118.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 10th. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target 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.