T. Rowe Price Group, Inc. $TROW Stock Holdings Reduced by Marathon Capital Management

Marathon Capital Management cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 580,325 shares of the asset manager’s stock after selling 58,200 shares during the period. T. Rowe Price Group makes up approximately 13.4% of Marathon Capital Management’s holdings, making the stock its largest holding. Marathon Capital Management owned about 0.27% of T. Rowe Price Group worth $65,977,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Woodline Partners LP boosted its stake in shares of T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after acquiring an additional 5,467 shares in the last quarter. Focus Partners Wealth increased its stake in T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after purchasing an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC acquired a new position in T. Rowe Price Group during the second quarter worth $931,000. Finally, Daiwa Securities Group Inc. boosted its position in T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after purchasing an additional 1,703 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TROW has been the topic of several research reports. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. TD Cowen increased their price objective on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group 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. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $105.67.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $111.30 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 4.34 and a beta of 1.47. The stock has a fifty day moving average of $113.43 and a two-hundred day moving average of $102.60.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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 business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.24 earnings per share. On average, analysts forecast that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

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.