4,843 Shares in T. Rowe Price Group, Inc. $TROW Acquired by Focused Alpha LLC

Focused Alpha LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,843 shares of the asset manager’s stock, valued at approximately $551,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in T. Rowe Price Group during the second quarter valued at approximately $2,728,119,000. Goldman Sachs Group Inc. grew its stake in shares of T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after acquiring an additional 6,740,172 shares during the period. First Trust Advisors LP increased its stake in shares of T. Rowe Price Group by 126.5% in the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock worth $335,894,000 after purchasing an additional 1,832,231 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in T. Rowe Price Group during the second quarter valued at about $167,984,000. Finally, Norges Bank purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $128,283,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $110.46 on Tuesday. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00. The business has a 50 day simple moving average of $113.62 and a two-hundred day simple moving average of $102.67. The stock has a market capitalization of $23.56 billion, a PE ratio of 11.08, a P/E/G ratio of 4.30 and a beta of 1.47.

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. The business 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 company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.24 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

Analyst Ratings Changes

Several brokerages recently issued reports on TROW. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 3rd. TD Cowen increased their price objective on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Finally, Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Ten investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average 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.