Cherry Tree Wealth Management LLC Purchases 28,407 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cherry Tree Wealth Management LLC increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 74,755.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,445 shares of the asset manager's stock after acquiring an additional 28,407 shares during the quarter. Cherry Tree Wealth Management LLC's holdings in T. Rowe Price Group were worth $2,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC increased its stake in shares of T. Rowe Price Group by 67.4% in 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 period. Curio Wealth LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $27,000. Advantage Trust Co increased 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 buying an additional 100 shares during the period. Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $42,000. Finally, Summit Securities Group LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company'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 transaction, the vice president now owns 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,923 shares of company stock worth $646,856 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TROW. TD Cowen dropped 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. Bank of America dropped their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, Wells Fargo & Company lowered their price target on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. 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, the stock has a consensus rating of "Hold" and an average price target of $94.09.

T. Rowe Price Group Trading Up 0.6%

Shares of TROW opened at $92.14 on Friday. The stock has a market cap of $20.30 billion, a PE ratio of 10.45, a PEG ratio of 2.99 and a beta of 1.49. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock has a 50 day simple moving average of $92.11 and a 200-day simple moving average of $101.72.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data 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 return on equity of 20.17% and a net margin of 28.38%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the company posted $2.38 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts forecast 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 will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.51%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend 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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