Arkadios Wealth Advisors Takes $933,000 Position 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 bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,151 shares of the asset manager's stock, valued at approximately $933,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $63,284,000. Fayez Sarofim & Co lifted its stake in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after purchasing an additional 425,142 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after purchasing an additional 387,604 shares during the last quarter. GAMMA Investing LLC increased its stake in T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after purchasing an additional 329,761 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in T. Rowe Price Group during the fourth quarter worth about $32,332,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider owned 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's 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 owned 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Stock Down 0.3%

Shares of T. Rowe Price Group stock traded down $0.29 during trading hours on Tuesday, hitting $105.65. 1,410,149 shares of the company's stock traded hands, compared to its average volume of 1,895,985. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market cap of $23.21 billion, a PE ratio of 11.80, a PEG ratio of 3.10 and a beta of 1.47. The stock has a 50 day simple moving average of $98.64 and a 200-day simple moving average of $98.16.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the firm earned $2.26 EPS. T. Rowe Price Group's quarterly revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict 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 disclosed 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 4.8%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TROW shares. The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Morgan Stanley upped their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a report on Monday. Evercore ISI boosted their price target on T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a research report on Monday. Citigroup cut their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $101.09.

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.