First Affirmative Financial Network Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

First Affirmative Financial Network purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,749 shares of the asset manager’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. bought a new position in shares of T. Rowe Price Group during the 3rd quarter valued at approximately $537,000. Envestnet Asset Management Inc. raised its holdings in shares of T. Rowe Price Group by 10.0% in the third quarter. Envestnet Asset Management Inc. now owns 136,550 shares of the asset manager’s stock valued at $14,320,000 after acquiring an additional 12,463 shares in the last quarter. FMR LLC raised its holdings in shares of T. Rowe Price Group by 1.2% in the third quarter. FMR LLC now owns 439,796 shares of the asset manager’s stock valued at $46,121,000 after acquiring an additional 5,068 shares in the last quarter. Invesco Ltd. grew its stake in T. Rowe Price Group by 7.6% in the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after purchasing an additional 119,305 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new position in T. Rowe Price Group in the third quarter valued at about $381,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. UBS Group lifted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Evercore ISI decreased their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their target price for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.10.

Insider Activity

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $118.42 on Friday. The business has a 50 day simple moving average of $114.41 and a 200-day simple moving average of $112.24. The stock has a market capitalization of $26.44 billion, a P/E ratio of 14.06, a P/E/G ratio of 2.02 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm posted $1.69 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

T. Rowe Price Group Company Profile

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.