Trade Report: The North Star Asset Management Inc. invests in T. Rowe Price Group Inc. (TROW) Shares

The North Star Asset Management Inc. invests in T. Rowe Price Group Inc. (TROW) Shares

North Star Asset Management Inc. boosted its stake in shares of T. Rowe Price Group Inc. (NASDAQ:TROW) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 138,223 shares of the company’s stock after buying an additional 1,695 shares during the period. T. Rowe Price Group comprises 1.2% of North Star Asset Management Inc.’s investment portfolio, making the stock its 26th largest position. North Star Asset Management Inc.’s holdings in T. Rowe Price Group were worth $10,086,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Thomaspartners Inc. boosted its position in shares of T. Rowe Price Group by 8.9% in the first quarter. Thomaspartners Inc. now owns 1,479,858 shares of the company’s stock valued at $108,710,000 after buying an additional 120,678 shares during the period. Mariner Wealth Advisors LLC boosted its position in shares of T. Rowe Price Group by 40.9% in the first quarter. Mariner Wealth Advisors LLC now owns 4,674 shares of the company’s stock valued at $343,000 after buying an additional 1,357 shares during the period. Ironwood Investment Counsel LLC boosted its position in shares of T. Rowe Price Group by 2.4% in the first quarter. Ironwood Investment Counsel LLC now owns 8,223 shares of the company’s stock valued at $604,000 after buying an additional 189 shares during the period. Geode Capital Management LLC boosted its position in shares of T. Rowe Price Group by 2.5% in the first quarter. Geode Capital Management LLC now owns 2,340,140 shares of the company’s stock valued at $171,607,000 after buying an additional 56,299 shares during the period. Finally, Fairfield Bush & CO. boosted its position in shares of T. Rowe Price Group by 7.9% in the first quarter. Fairfield Bush & CO. now owns 3,430 shares of the company’s stock valued at $252,000 after buying an additional 250 shares during the period. Institutional investors own 69.64% of the company’s stock.

T. Rowe Price Group Inc. (NASDAQ:TROW) traded down 1.19% during mid-day trading on Thursday, reaching $65.37. The company had a trading volume of 666,275 shares. T. Rowe Price Group Inc. has a 12 month low of $63.57 and a 12 month high of $79.00. The firm’s 50-day moving average price is $67.45 and its 200-day moving average price is $71.81. The stock has a market cap of $16.25 billion, a PE ratio of 15.75 and a beta of 1.17.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. T. Rowe Price Group had a net margin of 25.77% and a return on equity of 22.25%. The company earned $1,000 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the business posted $1.24 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts forecast that T. Rowe Price Group Inc. will post $4.24 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.54 per share. The ex-dividend date was Tuesday, September 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.26%. T. Rowe Price Group’s dividend payout ratio is 52.17%.

Several brokerages have recently issued reports on TROW. Deutsche Bank AG cut T. Rowe Price Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $79.00 to $75.00 in a research report on Wednesday, July 20th. TheStreet cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Morgan Stanley lowered their price target on T. Rowe Price Group from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 28th. Keefe, Bruyette & Woods reduced their price objective on T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, July 27th. Finally, JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $75.00 to $65.00 and set an “underweight” rating for the company in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $75.71.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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