Claro Advisors LLC Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Claro Advisors LLC increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 39.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,165 shares of the asset manager’s stock after buying an additional 2,029 shares during the period. Claro Advisors LLC’s holdings in T. Rowe Price Group were worth $874,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its stake in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the period. First United Bank & Trust purchased a new position in T. Rowe Price Group during the fourth quarter valued at $31,000. Park Place Capital Corp grew its holdings in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares during the period. Fortitude Family Office LLC purchased a new stake in T. Rowe Price Group in the fourth quarter worth about $33,000. Finally, CVA Family Office LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of analyst reports. Evercore ISI lowered their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. UBS Group boosted their price target 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. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. Citigroup lifted their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Morgan Stanley raised their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $112.10.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred 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 transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on 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 directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction dated 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 transaction, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,444 shares of company stock worth $740,408. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Down 1.3 %

TROW opened at $113.85 on Tuesday. The business has a fifty day moving average of $114.98 and a 200 day moving average of $112.92. The stock has a market cap of $25.42 billion, a P/E ratio of 13.52, a PEG ratio of 1.97 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. The business 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 quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 EPS. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s payout ratio is currently 58.91%.

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.