Wedge Capital Management L L P NC Grows Stock Holdings in T. Rowe Price Group, Inc. $TROW

Wedge Capital Management L L P NC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 321,452 shares of the asset manager’s stock after purchasing an additional 6,454 shares during the quarter. Wedge Capital Management L L P NC’s holdings in T. Rowe Price Group were worth $36,546,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. boosted its position in shares of T. Rowe Price Group by 17.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock valued at $8,088,000 after acquiring an additional 11,691 shares during the last quarter. SVB Wealth LLC increased its position in T. Rowe Price Group by 77.5% during the fourth 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 during the last quarter. LBP AM SA increased its position in T. Rowe Price Group by 23.9% during the fourth quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock worth $16,061,000 after purchasing an additional 30,226 shares during the last quarter. Generali Asset Management SPA SGR raised its stake in T. Rowe Price Group by 1,680.4% during 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 during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in 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 last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.0%

TROW stock opened at $113.75 on Wednesday. The company’s 50 day moving average is $113.20 and its two-hundred day moving average is $102.53. The stock has a market cap of $24.26 billion, a P/E ratio of 11.41, a PEG ratio of 4.43 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the firm earned $2.24 EPS. The business’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group’s payout ratio is presently 52.16%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TROW. The Goldman Sachs Group raised their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Evercore set a $118.00 price objective on T. Rowe Price Group in a research report on Monday. Barclays cut their target price on 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. Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to 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.