Farther Finance Advisors LLC Has $733,000 Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Farther Finance Advisors LLC increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 75.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,949 shares of the asset manager’s stock after purchasing an additional 3,427 shares during the quarter. Farther Finance Advisors LLC’s holdings in T. Rowe Price Group were worth $733,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daymark Wealth Partners LLC lifted its stake in shares of T. Rowe Price Group by 2.6% in the 1st quarter. Daymark Wealth Partners LLC now owns 6,823 shares of the asset manager’s stock valued at $627,000 after purchasing an additional 171 shares during the period. Range Financial Group LLC increased its holdings in T. Rowe Price Group by 51.2% in the first quarter. Range Financial Group LLC now owns 3,141 shares of the asset manager’s stock valued at $289,000 after purchasing an additional 1,064 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in T. Rowe Price Group by 4.2% in the first quarter. First Citizens Bank & Trust Co. now owns 66,271 shares of the asset manager’s stock valued at $6,088,000 after buying an additional 2,672 shares during the period. Park Avenue Securities LLC boosted its holdings in T. Rowe Price Group by 16.5% during the first quarter. Park Avenue Securities LLC now owns 4,879 shares of the asset manager’s stock worth $448,000 after buying an additional 691 shares during the last quarter. Finally, Wealthcare Capital Partners LLC grew its position in shares of T. Rowe Price Group by 1.2% during the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager’s stock worth $866,000 after buying an additional 115 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president now directly owns 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,923 shares of company stock valued at $646,856. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TROW shares. Bank of America cut their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Finally, Morgan Stanley boosted their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.09.

T. Rowe Price Group Trading Down 3.2%

TROW stock opened at $91.58 on Friday. The stock has a market cap of $20.18 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The stock has a 50-day moving average price of $91.66 and a two-hundred day moving average price of $102.44. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm earned $2.38 EPS. T. Rowe Price Group’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.55%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s payout ratio is 57.60%.

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.