Callan Family Office LLC Buys New Stake in T. Rowe Price Group, Inc. $TROW

Callan Family Office LLC purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,560 shares of the asset manager’s stock, valued at approximately $518,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. Woodline Partners LP lifted its position 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 buying an additional 5,467 shares during the period. Focus Partners Wealth grew its position in T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after acquiring an additional 1,250 shares during the period. EverSource Wealth Advisors LLC grew its position in T. Rowe Price Group by 44.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 478 shares during the period. Jump Financial LLC acquired a new position in T. Rowe Price Group during the second quarter worth $931,000. Finally, Daiwa Securities Group Inc. raised its stake 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 acquiring an additional 1,703 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 3rd. TD Cowen increased their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Morgan Stanley set a $116.00 price target on shares of T. Rowe Price Group in a report on Wednesday, July 29th. BMO Capital Markets boosted their price target on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Finally, Evercore set a $118.00 price objective on shares of T. Rowe Price Group in a research note on Monday, August 10th. Ten research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $105.67.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $112.87 on Wednesday. The company has a market cap of $24.08 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 3.72 and a beta of 1.47. The stock has a fifty day moving average price of $114.10 and a two-hundred day moving average price of $103.02. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week 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 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the business earned $2.24 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 10.15 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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