T. Rowe Price Group, Inc. $TROW Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 37.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,025 shares of the asset manager’s stock after acquiring an additional 1,087 shares during the period. Jacobi Capital Management LLC’s holdings in T. Rowe Price Group were worth $370,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Cooper Financial Group increased its holdings in shares of T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after purchasing an additional 113 shares during the period. Associated Banc Corp boosted its holdings in shares of T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock worth $2,284,000 after purchasing an additional 114 shares during the period. Wealthcare Capital Partners LLC raised its position in T. Rowe Price Group by 1.2% during the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager’s stock valued at $866,000 after acquiring an additional 115 shares in the last quarter. Finally, Cullen Investment Group LTD. raised its position in shares of T. Rowe Price Group by 0.9% in the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager’s stock valued at $1,245,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.1%

NASDAQ:TROW opened at $105.63 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The business has a 50 day moving average price of $105.69 and a two-hundred day moving average price of $97.48. The company has a market cap of $23.21 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $2.26 EPS. The business’s revenue was down .6% on a year-over-year basis. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is 56.76%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TROW shares. Evercore ISI restated a “positive” rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Keefe, Bruyette & Woods lifted their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, August 4th. Barclays reissued an “underweight” rating and set a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Finally, Wells Fargo & Company upped their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $101.55.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.