Apollon Wealth Management LLC Buys 4,431 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Apollon Wealth Management LLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 56.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,228 shares of the asset manager's stock after buying an additional 4,431 shares during the quarter. Apollon Wealth Management LLC's holdings in T. Rowe Price Group were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TROW. Avantax Advisory Services Inc. boosted its holdings in T. Rowe Price Group by 15.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,083 shares of the asset manager's stock worth $575,000 after acquiring an additional 669 shares in the last quarter. Natixis Advisors LLC lifted its holdings in T. Rowe Price Group by 1.8% in the fourth quarter. Natixis Advisors LLC now owns 47,720 shares of the asset manager's stock valued at $5,397,000 after acquiring an additional 845 shares during the period. Horizon Investments LLC increased its position in shares of T. Rowe Price Group by 104.0% in the fourth quarter. Horizon Investments LLC now owns 6,160 shares of the asset manager's stock valued at $697,000 after buying an additional 3,141 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $3,273,000. Finally, Xponance Inc. increased its position in shares of T. Rowe Price Group by 0.9% during the fourth quarter. Xponance Inc. now owns 31,837 shares of the asset manager's stock worth $3,600,000 after purchasing an additional 277 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The sale was disclosed in a legal filing 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 on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on TROW shares. Barclays upped their price target on T. Rowe Price Group from $90.00 to $91.00 and gave the company an "underweight" rating in a research note on Wednesday. Evercore ISI dropped their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. TD Cowen reduced their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Hold" and an average price target of $96.64.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $106.41 on Friday. The stock has a market cap of $23.44 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm's 50-day simple moving average is $96.37 and its 200 day simple moving average is $98.97.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm posted $2.38 earnings per share. The business's revenue was up .8% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's payout ratio is currently 57.60%.

T. Rowe Price Group Company 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.

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