9,331 Shares in T. Rowe Price Group, Inc. $TROW Acquired by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,331 shares of the asset manager’s stock, valued at approximately $1,043,000.

Several other large investors also recently added to or reduced their stakes in TROW. Clearstead Trust LLC acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $41,000. Bridgewater Advisors Inc. acquired a new position in shares of T. Rowe Price Group during the 2nd quarter valued at about $476,000. Vest Financial LLC boosted its position in shares of T. Rowe Price Group by 3.9% during the 2nd quarter. Vest Financial LLC now owns 548,644 shares of the asset manager’s stock valued at $62,375,000 after acquiring an additional 20,743 shares during the last quarter. Nilsine Partners LLC grew its holdings in shares of T. Rowe Price Group by 3.2% in the second quarter. Nilsine Partners LLC now owns 4,083 shares of the asset manager’s stock valued at $464,000 after purchasing an additional 127 shares during the period. Finally, Leelyn Smith LLC increased its position in T. Rowe Price Group by 3.4% during the second quarter. Leelyn Smith LLC now owns 28,687 shares of the asset manager’s stock worth $3,261,000 after purchasing an additional 946 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $110.56 on Friday. The stock’s 50-day moving average is $113.52 and its two-hundred day moving average is $102.66. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 4.30 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.24 EPS. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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 is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group’s payout ratio is currently 52.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TROW. Evercore set a $118.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 10th. JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a research report on Wednesday, July 29th. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Ten analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $105.67.

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.