Blair William & Co. IL Boosts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Blair William & Co. has increased its holdings in T. Rowe Price Group, owning approximately 0.10% of the firm, worth $20.46 million after acquiring additional shares in Q1.
• T. Rowe Price Group reported $2.24 EPS, surpassing expectations, and a revenue of $1.72 billion for the quarter, despite a .6% year-over-year decline.
• The firm announced a quarterly dividend of $1.27 per share with a yield of 4.9%, reflecting a payout ratio of 57.60%.

Blair William & Co. IL lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,741 shares of the asset manager's stock after buying an additional 2,743 shares during the quarter. Blair William & Co. IL owned about 0.10% of T. Rowe Price Group worth $20,463,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Ameriflex Group Inc. acquired a new stake in shares of T. Rowe Price Group during the fourth quarter valued at $42,000. Hexagon Capital Partners LLC grew its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $39,000. Chilton Capital Management LLC acquired a new stake in T. Rowe Price Group during the first quarter worth approximately $41,000. Finally, Wayfinding Financial LLC purchased a new stake in T. Rowe Price Group in the 1st quarter worth approximately $43,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction dated 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 transaction, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $93,876.64. Following the transaction, the insider 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. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TROW. Morgan Stanley upped their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday. Keefe, Bruyette & Woods lifted their target price 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. The Goldman Sachs Group dropped their price target on 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. TD Cowen cut their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Finally, 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. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $101.09.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded down $1.36 during midday trading on Thursday, reaching $104.06. The company had a trading volume of 1,187,393 shares, compared to its average volume of 1,836,036. The firm has a market cap of $22.86 billion, a PE ratio of 11.63, a P/E/G ratio of 2.87 and a beta of 1.47. The stock has a fifty day moving average price of $99.07 and a 200 day moving average price of $98.27. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company earned $2.26 earnings per share. The company's revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $1.27 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group's dividend payout ratio is presently 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.