Arkadios Wealth Advisors Invests $933,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Arkadios Wealth Advisors has acquired a new position in T. Rowe Price Group, purchasing 10,151 shares valued at approximately $933,000.
• Insiders at T. Rowe Price have recently sold shares, with Jessica M. Hiebler selling 968 shares for over $93,000 and VP Dorothy C. Sawyer selling 2,000 shares for about $190,860.
• T. Rowe Price reported $2.24 earnings per share for the last quarter, surpassing expectations of $2.15, and announced a quarterly dividend of $1.27 per share.

Arkadios Wealth Advisors purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,151 shares of the asset manager's stock, valued at approximately $933,000.

A number of other large investors have also bought and sold shares of TROW. XTX Topco Ltd purchased a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $258,000. Banque Cantonale Vaudoise purchased a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $1,230,000. Federated Hermes Inc. increased its stake in shares of T. Rowe Price Group by 6.7% during the first quarter. Federated Hermes Inc. now owns 2,112 shares of the asset manager's stock valued at $194,000 after buying an additional 133 shares during the period. TCTC Holdings LLC increased its stake in shares of T. Rowe Price Group by 0.7% during the first quarter. TCTC Holdings LLC now owns 57,545 shares of the asset manager's stock valued at $5,287,000 after buying an additional 389 shares during the period. Finally, Ridgewood Investments LLC increased its stake in shares of T. Rowe Price Group by 14.7% during the first quarter. Ridgewood Investments LLC now owns 18,093 shares of the asset manager's stock valued at $1,662,000 after buying an additional 2,323 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $1.39 during trading on Thursday, hitting $104.03. 723,484 shares of the company's stock were exchanged, compared to its average volume of 1,834,243. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The business's 50-day simple moving average is $99.07 and its 200 day simple moving average is $98.27. The company has a market cap of $22.86 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 2.87 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter last year, the business posted $2.26 earnings per share. The firm's revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.76%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TROW shares. Wells Fargo & Company boosted their target price on 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. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Citigroup reduced their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI upped their price target on T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a research note on Monday. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $101.09.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider directly owned 13,611 shares of the company's stock, valued at $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. Company insiders own 2.00% of the company's stock.

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.