Callan Family Office LLC Purchases New Holdings in T. Rowe Price Group, Inc. $TROW

Callan Family Office LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,560 shares of the asset manager’s stock, valued at approximately $518,000.

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

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $112.87 on Wednesday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $122.00. The stock has a market cap of $24.08 billion, a P/E ratio of 11.32, a P/E/G ratio of 3.72 and a beta of 1.47. The firm has a 50 day moving average price of $114.10 and a 200 day moving average price of $103.02.

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 the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $2.24 earnings per share. Analysts predict that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $1.30 dividend. 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 dividend payout ratio is currently 52.16%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TROW. 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a report on Wednesday, July 29th. The Goldman Sachs Group upped their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Finally, Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price 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.