Foster & Motley Inc. Invests $1.46 Million in T. Rowe Price Group, Inc. $TROW

Foster & Motley Inc. acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,877 shares of the asset manager’s stock, valued at approximately $1,464,000.

Several other hedge funds have also made changes to their positions in the stock. TD Private Client Wealth LLC raised its stake in shares of 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 purchasing an additional 123 shares in the last quarter. DV Equities LLC acquired a new stake in T. Rowe Price Group during the fourth quarter worth $32,000. Bank & Trust Co boosted its stake in 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 buying an additional 108 shares in the last quarter. Motiv8 Investments LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $35,000. Finally, Clearstead Trust LLC bought a new stake in T. Rowe Price Group in the 2nd quarter valued at $41,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.7%

TROW opened at $112.23 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00. The stock has a market capitalization of $23.94 billion, a PE ratio of 11.26, a PEG ratio of 4.29 and a beta of 1.47. The firm has a 50-day moving average price of $113.83 and a two-hundred day moving average price of $102.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company posted $2.24 EPS. T. Rowe Price Group’s revenue was up 10.7% on a year-over-year basis. On average, research analysts predict that T. Rowe Price Group, Inc. will post 10.13 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced 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. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s payout ratio is currently 52.16%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Barclays decreased their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd. The Goldman Sachs Group boosted their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a 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 report on Thursday, August 13th. Ten equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $105.67.

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.