Vest Financial LLC Boosts Holdings in T. Rowe Price Group, Inc. $TROW

Vest Financial LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 548,644 shares of the asset manager’s stock after purchasing an additional 20,743 shares during the quarter. Vest Financial LLC’s holdings in T. Rowe Price Group were worth $62,375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC boosted its stake in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares in the last quarter. DV Equities LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth about $32,000. Motiv8 Investments LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $35,000. Bank & Trust Co increased its position in shares of T. Rowe Price Group by 52.4% during the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after purchasing an additional 108 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of T. Rowe Price Group by 92.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 185 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $111.30 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The firm has a 50-day simple moving average of $113.43 and a 200-day simple moving average of $102.60. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 4.34 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last issued 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. 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 return on equity of 20.91% and a net margin of 29.26%.The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.24 EPS. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 10.13 EPS 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. Shareholders of record on Tuesday, September 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TROW shares. Barclays decreased 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 report on Monday, August 3rd. 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. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, 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. One research 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 company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus target price of $105.67.

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.