Signaturefd LLC Raises Holdings in T. Rowe Price Group, Inc. $TROW

Signaturefd LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 187.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,584 shares of the asset manager’s stock after buying an additional 6,901 shares during the quarter. Signaturefd LLC’s holdings in T. Rowe Price Group were worth $1,203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Woodline Partners LP increased its position in T. Rowe Price Group by 41.0% during the first 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 in the last quarter. Focus Partners Wealth grew 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 worth $1,199,000 after acquiring an additional 1,250 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after purchasing an additional 478 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of T. Rowe Price Group in the second quarter valued at $931,000. Finally, Daiwa Securities Group Inc. grew its position in shares of T. Rowe Price Group by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after purchasing an additional 1,703 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TROW. BMO Capital Markets raised their price target on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. The Goldman Sachs Group raised their target price on shares of 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $105.67.

T. Rowe Price Group Trading Down 0.1%

NASDAQ:TROW opened at $111.30 on Friday. The firm’s fifty day simple moving average is $113.43 and its 200 day simple moving average is $102.60. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The firm 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.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results 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. 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 the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $2.24 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, 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 paid a $1.30 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

About T. Rowe Price Group

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.