Trading Report: The T. Rowe Price Group Inc. (TROW) Stake Held by North Star Asset Management Inc.

The T. Rowe Price Group Inc. (TROW) Stake Held by North Star Asset Management Inc.

North Star Asset Management Inc. maintained its stake in shares of T. Rowe Price Group Inc. (NASDAQ:TROW) during the second quarter, Holdings Channel reports. The institutional investor owned 136,528 shares of the company’s stock at the end of the second quarter. T. Rowe Price Group makes up 1.2% of North Star Asset Management Inc.’s portfolio, making the stock its 24th largest position. North Star Asset Management Inc.’s holdings in T. Rowe Price Group were worth $10,029,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of TROW. Bank of Montreal Can acquired a new position in shares of T. Rowe Price Group during the second quarter valued at $68,389,000. NN Investment Partners Holdings N.V. boosted its position in shares of T. Rowe Price Group by 2,238.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 497,216 shares of the company’s stock valued at $36,284,000 after buying an additional 475,950 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of T. Rowe Price Group during the first quarter valued at $27,768,000. 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 last quarter. Finally, PGGM Investments boosted its position in shares of T. Rowe Price Group by 28.2% in the second quarter. PGGM Investments now owns 412,364 shares of the company’s stock valued at $30,090,000 after buying an additional 90,730 shares during the last quarter. Institutional investors own 69.64% of the company’s stock.

T. Rowe Price Group Inc. (NASDAQ:TROW) traded down 1.13% on Friday, reaching $66.58. 1,951,423 shares of the company were exchanged. The firm has a 50-day moving average of $67.77 and a 200 day moving average of $72.00. The firm has a market capitalization of $16.55 billion, a P/E ratio of 16.04 and a beta of 1.17. T. Rowe Price Group Inc. has a 12-month low of $63.57 and a 12-month high of $79.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, beating 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 firm had revenue of $1,000 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group Inc. will post $4.24 earnings per share for the current year.

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

Several equities analysts recently weighed in on the stock. Deutsche Bank AG cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $79.00 to $75.00 in a research report on Wednesday, July 20th. TheStreet cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Morgan Stanley dropped their price target on shares of 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 dropped their price target on shares of T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $75.27.

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.

Related posts

Leave a Comment