Johnson Financial Group Inc. Buys New Shares in T. Rowe Price Group, Inc. $TROW

Johnson Financial Group Inc. purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 21,922 shares of the asset manager’s stock, valued at approximately $2,492,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. SVB Wealth LLC boosted its holdings in T. Rowe Price Group by 77.5% in the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after buying an additional 16,155 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in T. Rowe Price Group by 3.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock valued at $54,489,000 after acquiring an additional 18,952 shares during the period. Generali Asset Management SPA SGR lifted its position in shares of T. Rowe Price Group by 1,680.4% in the fourth quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock valued at $1,814,000 after acquiring an additional 16,720 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at about $5,935,000. Finally, Norges Bank bought a new position in shares of T. Rowe Price Group in the fourth quarter worth about $128,283,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of several recent analyst reports. Evercore set a $118.00 target price on T. Rowe Price Group in a research note on Monday, August 10th. TD Cowen upped their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Barclays reduced their price objective on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research report on Monday, August 3rd. Finally, Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a report on Wednesday, July 29th. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $105.67.

T. Rowe Price Group Trading Up 1.7%

Shares of TROW stock opened at $112.23 on Thursday. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 4.29 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00. The stock’s 50-day moving average price is $113.83 and its 200-day moving average price is $102.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion during 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%.The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.24 earnings per share. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

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.