T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Raised by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 20.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,142 shares of the asset manager’s stock after purchasing an additional 1,059 shares during the period. Avantax Advisory Services Inc.’s holdings in T. Rowe Price Group were worth $564,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FreeGulliver LLC bought a new position in shares of T. Rowe Price Group in the 1st quarter valued at approximately $212,000. Principle Wealth Partners LLC increased its stake in T. Rowe Price Group by 8.9% in the first quarter. Principle Wealth Partners LLC now owns 9,947 shares of the asset manager’s stock valued at $914,000 after acquiring an additional 810 shares during the period. Carnegie Investment Counsel lifted its position in shares of T. Rowe Price Group by 77.5% during the 1st quarter. Carnegie Investment Counsel now owns 20,024 shares of the asset manager’s stock worth $1,733,000 after buying an additional 8,743 shares during the period. Pinnacle Associates Ltd. grew its holdings in shares of T. Rowe Price Group by 3.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 15,267 shares of the asset manager’s stock worth $1,403,000 after purchasing an additional 500 shares during the last quarter. Finally, Unison Advisors LLC increased its holdings in T. Rowe Price Group by 1.1% during the 1st quarter. Unison Advisors LLC now owns 17,285 shares of the asset manager’s stock valued at $1,588,000 after purchasing an additional 186 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider directly owned 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. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research reports. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Morgan Stanley raised their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $101.09.

T. Rowe Price Group Stock Down 0.3%

Shares of NASDAQ:TROW opened at $105.65 on Wednesday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a market cap of $23.21 billion, a P/E ratio of 11.80, a P/E/G ratio of 3.10 and a beta of 1.47. The business has a fifty day simple moving average of $98.84 and a 200 day simple moving average of $98.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.26 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.76%.

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.