Todays Report: The Quadrant Capital Group LLC reaches $119,000 position of T. Rowe Price Group Inc. (TROW)

The Quadrant Capital Group LLC reaches $119,000 position  of T. Rowe Price Group Inc. (TROW)

Quadrant Capital Group LLC boosted its stake in T. Rowe Price Group Inc. (NASDAQ:TROW) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 1,711 shares of the company’s stock after buying an additional 42 shares during the period. Quadrant Capital Group LLC’s holdings in T. Rowe Price Group were worth $119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $202,000. Teachers Advisors Inc. increased its stake in shares of T. Rowe Price Group by 13.6% in the first quarter. Teachers Advisors Inc. now owns 483,702 shares of the company’s stock valued at $35,533,000 after buying an additional 57,947 shares during the period. BlackRock Group LTD increased its stake in shares of T. Rowe Price Group by 1.6% in the first quarter. BlackRock Group LTD now owns 1,980,109 shares of the company’s stock valued at $145,459,000 after buying an additional 31,013 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of T. Rowe Price Group by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,523,477 shares of the company’s stock valued at $479,215,000 after buying an additional 75,995 shares during the period. Finally, BlackRock Japan Co. Ltd increased its stake in shares of T. Rowe Price Group by 3.8% in the first quarter. BlackRock Japan Co. Ltd now owns 331,394 shares of the company’s stock valued at $24,344,000 after buying an additional 12,104 shares during the period. Hedge funds and other institutional investors own 69.64% of the company’s stock.

T. Rowe Price Group Inc. (NASDAQ:TROW) traded down 1.13% during midday trading on Friday, hitting $66.58. The stock had a trading volume of 1,972,320 shares. The firm has a 50 day moving average of $67.70 and a 200 day moving average of $71.95. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 16.04 and a beta of 1.17. T. Rowe Price Group Inc. has a 52 week low of $63.57 and a 52 week high of $79.00.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.16 dividend on an annualized basis and a yield of 3.24%. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.17%.

TROW has been the subject of several recent analyst reports. Deutsche Bank AG downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $79.00 to $75.00 in a research report on Wednesday, July 20th. TheStreet downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Barclays PLC reduced their price objective on shares of T. Rowe Price Group from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 9th. Zacks Investment Research downgraded shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $75.93.

T. Rowe Price Group Company Profile

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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