Edmond DE Rothschild Holding S.A. Invests $736,000 in T. Rowe Price Group, Inc. $TROW

Edmond DE Rothschild Holding S.A. purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,477 shares of the asset manager’s stock, valued at approximately $736,000.

Several other institutional investors and hedge funds have also modified their holdings of TROW. TD Private Client Wealth LLC boosted its holdings 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 worth $26,000 after purchasing an additional 123 shares in the last quarter. DV Equities LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $32,000. Bank & Trust Co boosted its stake 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 acquiring an additional 108 shares in the last quarter. Motiv8 Investments LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $35,000. Finally, Clearstead Trust LLC acquired a new position in shares of T. Rowe Price Group during the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of recent analyst reports. Evercore set a $118.00 price objective on T. Rowe Price Group in a research note on Monday, August 10th. Barclays decreased their target price on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $109.00 price target on shares of T. Rowe Price Group in a report on Monday, August 3rd. The Goldman Sachs Group boosted their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Finally, TD Cowen upped their price objective on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $105.67.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $112.19 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The firm has a market capitalization of $23.93 billion, a PE ratio of 11.25, a PEG ratio of 4.37 and a beta of 1.47. The business’s 50-day simple moving average is $113.91 and its 200-day simple moving average is $102.80.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.24 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. The ex-dividend date 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 payout ratio 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.