Gateway Investment Advisers LLC Has $1.41 Million Holdings in T. Rowe Price Group, Inc. $TROW

Gateway Investment Advisers LLC trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 40.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,401 shares of the asset manager’s stock after selling 8,421 shares during the period. Gateway Investment Advisers LLC’s holdings in T. Rowe Price Group were worth $1,410,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. TD Private Client Wealth LLC lifted its position in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares during the period. DV Equities LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth $32,000. Motiv8 Investments LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth $35,000. Bank & Trust Co increased its stake in T. Rowe Price Group by 52.4% in the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 108 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in T. Rowe Price Group by 92.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TROW shares. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Barclays cut their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a report on Monday, August 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a report on Wednesday, July 29th. Finally, TD Cowen upped their target price on T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $111.42 on Thursday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The stock has a market cap of $23.77 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 4.43 and a beta of 1.47. The firm’s 50-day simple moving average is $113.35 and its 200 day simple moving average is $102.56.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.24 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 10.13 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. T. Rowe Price Group’s payout ratio is presently 52.16%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.