Trajan Wealth LLC Takes Position in T. Rowe Price Group, Inc. $TROW

Trajan Wealth LLC acquired a new position 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 SEC. The firm acquired 16,932 shares of the asset manager’s stock, valued at approximately $1,925,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Woodline Partners LP grew its stake in shares of T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after buying an additional 5,467 shares in the last quarter. Focus Partners Wealth lifted its stake in T. Rowe Price Group by 10.6% during 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in T. Rowe Price Group by 44.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $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 about $931,000. Finally, Daiwa Securities Group Inc. boosted its holdings 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 acquiring an additional 1,703 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price target on shares of 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. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Barclays decreased their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research note on Monday, August 3rd. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Ten research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and a consensus target price of $105.67.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $112.30 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The firm has a market capitalization of $23.96 billion, a P/E ratio of 11.26, a P/E/G ratio of 3.70 and a beta of 1.47. The company’s fifty day moving average price is $114.02 and its 200 day moving average price is $102.91.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the company posted $2.24 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 10.14 EPS for the current year.

T. Rowe Price Group Announces Dividend

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 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 is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 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.