Belpointe Asset Management LLC Purchases 626 Shares of T. Rowe Price Group, Inc. $TROW

Belpointe Asset Management LLC boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,931 shares of the asset manager’s stock after buying an additional 626 shares during the quarter. Belpointe Asset Management LLC’s holdings in T. Rowe Price Group were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Focus Partners Wealth raised its holdings in T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the last quarter. Anchor Investment Management LLC lifted its stake in T. Rowe Price Group by 0.9% in the first quarter. Anchor Investment Management LLC now owns 27,876 shares of the asset manager’s stock worth $2,561,000 after acquiring an additional 236 shares during the period. Security National Bank of Sioux City Iowa IA lifted its stake in T. Rowe Price Group by 6.6% in the first quarter. Security National Bank of Sioux City Iowa IA now owns 15,734 shares of the asset manager’s stock worth $1,445,000 after acquiring an additional 973 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in T. Rowe Price Group by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,872,887 shares of the asset manager’s stock worth $172,062,000 after acquiring an additional 109,977 shares during the period. Finally, Optimize Financial Inc lifted its stake in T. Rowe Price Group by 15.5% in the first quarter. Optimize Financial Inc now owns 3,788 shares of the asset manager’s stock worth $348,000 after acquiring an additional 508 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $105.63 on Monday. The stock has a market capitalization of $23.21 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.76 and a beta of 1.51. The stock’s 50-day simple moving average is $105.69 and its two-hundred day simple moving average is $97.44. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm earned $2.26 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group’s payout ratio is presently 56.76%.

Analysts Set New Price Targets

A number of analysts recently commented on TROW shares. Keefe, Bruyette & Woods raised their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a research note on Monday, August 4th. Evercore ISI reaffirmed a “positive” rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. Barclays reaffirmed an “underweight” rating and issued a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Wells Fargo & Company raised their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $101.55.

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.