Plato Investment Management Ltd Invests $960,000 in T. Rowe Price Group, Inc. $TROW

Plato Investment Management Ltd bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,495 shares of the asset manager’s stock, valued at approximately $960,000.

Other hedge funds also recently bought and sold shares of the company. Woodline Partners LP raised its holdings in shares of 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 valued at $1,728,000 after acquiring an additional 5,467 shares in the last quarter. Focus Partners Wealth boosted its holdings 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 in the last quarter. Jump Financial LLC purchased a new position in T. Rowe Price Group during the 2nd quarter valued at $931,000. Finally, Daiwa Securities Group Inc. increased its position in T. Rowe Price Group by 5.4% during the 2nd 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TROW shares. BMO Capital Markets raised their target price on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. The Goldman Sachs Group boosted their price target 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Evercore set a $118.00 price objective on T. Rowe Price Group in a research report on Monday, August 10th. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $105.67.

T. Rowe Price Group Trading Down 0.1%

TROW opened at $110.32 on Wednesday. The company has a market cap of $23.53 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 4.30 and a beta of 1.47. The stock has a fifty day simple moving average of $113.71 and a two-hundred day simple moving average of $102.71. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-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 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.24 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 10.13 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) 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.