Edmond DE Rothschild Holding S.A. Purchases New Holdings in T. Rowe Price Group, Inc. $TROW

Edmond DE Rothschild Holding S.A. acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,477 shares of the asset manager’s stock, valued at approximately $736,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its stake in T. Rowe Price Group by 91.8% during the 4th 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 period. DV Equities LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter worth $32,000. Bank & Trust Co boosted its position in shares of T. Rowe Price Group by 52.4% in the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after buying an additional 108 shares during the period. Motiv8 Investments LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at $35,000. Finally, Clearstead Trust LLC acquired a new position in T. Rowe Price Group during the second quarter valued at $41,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays decreased their price objective on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research report on Monday, August 3rd. BMO Capital Markets upped their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Evercore set a $118.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 10th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, The Goldman Sachs Group boosted their price objective 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. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $105.67.

T. Rowe Price Group Trading Down 0.0%

TROW opened at $112.19 on Friday. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 4.37 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The stock has a fifty day moving average price of $113.91 and a 200 day moving average price of $102.80.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 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 for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

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.