Wealthcare Advisory Partners LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthcare Advisory Partners LLC purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,819 shares of the asset manager’s stock, valued at approximately $588,000.

Other hedge funds also recently made changes to their positions in the company. L. Roy Papp & Associates LLP raised its holdings in shares of T. Rowe Price Group by 5.8% during the fourth quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after buying an additional 8,773 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in T. Rowe Price Group by 15.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock worth $37,141,000 after purchasing an additional 47,043 shares in the last quarter. Nordea Investment Management AB raised its holdings in T. Rowe Price Group by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after purchasing an additional 10,680 shares in the last quarter. Vest Financial LLC raised its holdings in T. Rowe Price Group by 48.8% during the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares in the last quarter. Finally, Nebula Research & Development LLC bought a new stake in T. Rowe Price Group during the fourth quarter worth approximately $807,000. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TROW shares. Morgan Stanley boosted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. boosted 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. UBS Group lifted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Citigroup lifted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price target for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $115.31 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The stock has a market cap of $25.75 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.97 and a beta of 1.43. The firm’s 50 day moving average price is $114.98 and its two-hundred day moving average price is $112.85.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.69 EPS. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders sold 6,444 shares of company stock valued at $740,408 in the last quarter. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group 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.