Kinloch Capital LLC Acquires Shares of 46,798 T. Rowe Price Group, Inc. $TROW

Kinloch Capital LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 46,798 shares of the asset manager’s stock, valued at approximately $5,320,000. T. Rowe Price Group makes up 1.9% of Kinloch Capital LLC’s investment portfolio, making the stock its 12th largest position.

Other large investors have also made changes to their positions in the company. SVB Wealth LLC grew its position in T. Rowe Price Group by 77.5% during the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after purchasing an additional 16,155 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of T. Rowe Price Group by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock valued at $54,489,000 after purchasing an additional 18,952 shares during the period. Generali Asset Management SPA SGR lifted its position in shares of T. Rowe Price Group by 1,680.4% in the fourth quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock worth $1,814,000 after purchasing an additional 16,720 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in T. Rowe Price Group during the fourth quarter valued at approximately $5,935,000. Finally, Norges Bank purchased a new stake in T. Rowe Price Group in the 4th quarter worth approximately $128,283,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.7%

Shares of NASDAQ:TROW opened at $112.30 on Tuesday. The firm has a market capitalization of $23.96 billion, a PE ratio of 11.26, a PEG ratio of 3.70 and a beta of 1.47. The business’s 50 day moving average is $114.02 and its 200-day moving average is $102.91. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.24 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 10.14 EPS 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. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is currently 52.16%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TROW shares. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. BMO Capital Markets boosted their price target on 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 reaffirmed a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Barclays reduced their price objective on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. Ten investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group currently has a consensus 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.