19,149 Shares in T. Rowe Price Group, Inc. $TROW Acquired by Strs Ohio

Strs Ohio acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,149 shares of the asset manager’s stock, valued at approximately $1,759,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC grew its holdings in T. Rowe Price Group by 27.9% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock worth $89,000 after purchasing an additional 212 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in T. Rowe Price Group by 109.2% in the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock worth $6,369,000 after purchasing an additional 36,190 shares during the last quarter. Mather Group LLC. grew its holdings in T. Rowe Price Group by 11.9% in the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager’s stock worth $12,455,000 after purchasing an additional 14,371 shares during the last quarter. GAMMA Investing LLC grew its holdings in T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock worth $30,612,000 after purchasing an additional 329,761 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in T. Rowe Price Group by 12.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager’s stock worth $19,575,000 after purchasing an additional 24,323 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 0.5%

TROW stock opened at $103.69 on Wednesday. The company’s 50-day simple moving average is $105.87 and its 200-day simple moving average is $97.47. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The firm has a market cap of $22.78 billion, a P/E ratio of 11.59, a PEG ratio of 2.70 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 the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. 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 earned $2.26 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, 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 business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is 56.76%.

Analyst Ratings Changes

Several research firms have issued reports on TROW. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Barclays reissued an “underweight” rating and issued a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Morgan Stanley upped their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Wells Fargo & Company upped their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Finally, Evercore ISI reissued a “positive” rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus price target 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.