D.A. Davidson & CO. Boosts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

D.A. Davidson & CO. lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 36.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 110,434 shares of the asset manager's stock after purchasing an additional 29,774 shares during the period. D.A. Davidson & CO.'s holdings in T. Rowe Price Group were worth $10,146,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TROW. Mutual Advisors LLC lifted its holdings in T. Rowe Price Group by 29.9% during the first quarter. Mutual Advisors LLC now owns 53,950 shares of the asset manager's stock worth $4,771,000 after buying an additional 12,405 shares during the period. Capital Investment Counsel Inc raised its position in shares of T. Rowe Price Group by 11.2% in the 1st quarter. Capital Investment Counsel Inc now owns 53,648 shares of the asset manager's stock worth $4,929,000 after acquiring an additional 5,397 shares in the last quarter. Revisor Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 76.7% during the 1st quarter. Revisor Wealth Management LLC now owns 3,274 shares of the asset manager's stock worth $301,000 after purchasing an additional 1,421 shares during the last quarter. Private Trust Co. NA boosted its position in T. Rowe Price Group by 47.4% during the first quarter. Private Trust Co. NA now owns 2,903 shares of the asset manager's stock valued at $267,000 after purchasing an additional 933 shares in the last quarter. Finally, Krane Funds Advisors LLC boosted its position in T. Rowe Price Group by 10.6% during the first quarter. Krane Funds Advisors LLC now owns 3,903 shares of the asset manager's stock valued at $359,000 after purchasing an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Buying and Selling

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred 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 sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Up 0.5%

NASDAQ:TROW opened at $100.41 on Friday. The company has a market capitalization of $22.12 billion, a P/E ratio of 11.38, a PEG ratio of 3.24 and a beta of 1.49. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a fifty day simple moving average of $94.03 and a 200-day simple moving average of $99.94.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm's revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.38 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TROW shares. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Wells Fargo & Company reduced their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research report on Wednesday. Barclays lifted their price target on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Finally, Bank of America reduced their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $94.91.

About T. Rowe Price Group

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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