T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 4.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,875 shares of the asset manager’s stock after selling 95 shares during the quarter. HB Wealth Management LLC’s holdings in T. Rowe Price Group were worth $229,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in TROW. Morgan Stanley boosted its stake in T. Rowe Price Group by 0.7% during the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares during the last quarter. Fisher Asset Management LLC boosted its stake in T. Rowe Price Group by 6.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after purchasing an additional 109,653 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in T. Rowe Price Group by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after purchasing an additional 236,697 shares during the last quarter. First Trust Advisors LP boosted its stake in T. Rowe Price Group by 1.3% during the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock worth $126,413,000 after purchasing an additional 15,504 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth $130,386,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $114.79 on Friday. The firm has a market capitalization of $25.63 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.98 and a beta of 1.42. The firm’s 50-day moving average is $115.33 and its two-hundred day moving average is $113.12. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion for 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 business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.69 earnings per share. Analysts expect that T. Rowe Price Group, Inc. will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.32%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TROW shares. TD Cowen raised shares of 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 research note on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, Citigroup boosted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four 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 has a consensus rating of “Hold” and an average price target of $112.10.

Read Our Latest Report on T. Rowe Price Group

Insiders Place Their Bets

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 shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders have sold 6,444 shares of company stock worth $740,408 over the last three months. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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