Buck Wealth Strategies LLC Invests $1.11 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Buck Wealth Strategies LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,099 shares of the asset manager's stock, valued at approximately $1,112,000.

Several other hedge funds also recently modified their holdings of the stock. Glenview Trust co boosted its holdings in T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock worth $488,000 after acquiring an additional 92 shares during the last quarter. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Advantage Trust Co grew its position in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Strategy Asset Managers LLC lifted its position in shares of T. Rowe Price Group by 5.0% during the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock worth $258,000 after buying an additional 108 shares in the last quarter. Finally, Wealthcare Capital Partners LLC boosted its stake in shares of T. Rowe Price Group by 1.2% in the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the 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 sale, the insider now owns 13,611 shares of the company's stock, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. The trade was a 8.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,923 shares of company stock valued at $646,856. Corporate insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded up $0.78 during midday trading on Monday, reaching $93.99. 1,323,936 shares of the stock were exchanged, compared to its average volume of 1,516,427. The company's fifty day moving average is $92.20 and its 200-day moving average is $101.19. The firm has a market cap of $20.71 billion, a PE ratio of 10.66, a PEG ratio of 3.03 and a beta of 1.49. 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 - Get Free Report) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. T. Rowe Price Group's revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. TD Cowen lowered their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Barclays boosted their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Bank of America dropped their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $94.09.

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.