Vise Technologies Inc. Invests $3.99 Million in T. Rowe Price Group, Inc. $TROW

Vise Technologies Inc. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 35,079 shares of the asset manager’s stock, valued at approximately $3,988,000.

Other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC increased 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 purchasing an additional 123 shares in the last quarter. DV Equities LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $32,000. Motiv8 Investments LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $35,000. Bank & Trust Co boosted its position in shares of T. Rowe Price Group by 52.4% during the 2nd 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. boosted its position in shares of T. Rowe Price Group by 92.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $112.19 on Friday. The company has a 50-day moving average price of $113.91 and a 200-day moving average price of $102.80. The stock has a market capitalization of $23.93 billion, a P/E ratio of 11.25, a P/E/G ratio of 4.37 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $2.24 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, 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 business also recently disclosed 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

A number of analysts recently commented on TROW shares. 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 research report on Monday, August 3rd. TD Cowen increased their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Barclays reduced their price objective on 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. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Ten investment 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.