Elevated Capital Advisors LLC Boosts Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Elevated Capital Advisors LLC increased its stake in T. Rowe Price Group by 194.2% in the first quarter, bringing its holdings to 19,938 shares worth about $1.8 million.
• Recent earnings were solid: T. Rowe Price reported $2.52 EPS, beating estimates, on $1.86 billion in revenue, which also topped expectations and rose 5.3% year over year.
• The stock pays a $1.30 quarterly dividend and yields about 4.4%, while analyst sentiment remains cautious with an average rating of "Reduce" and a consensus price target of $100.54.

Elevated Capital Advisors LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 194.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,938 shares of the asset manager's stock after purchasing an additional 13,161 shares during the quarter. Elevated Capital Advisors LLC's holdings in T. Rowe Price Group were worth $1,797,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its holdings in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock worth $26,000 after buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock valued at $29,000 after acquiring an additional 238 shares during the last quarter. Canton Hathaway LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $31,000. Sound Income Strategies LLC lifted its stake in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock worth $32,000 after purchasing an additional 189 shares in the last quarter. Finally, DV Equities LLC purchased a new stake in T. Rowe Price Group in the 4th quarter worth $32,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research analyst reports. Morgan Stanley raised their price objective on T. Rowe Price Group from $105.00 to $109.00 and gave the company an "equal weight" rating in a research report on Friday, June 26th. Weiss Ratings upgraded T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 2nd. Zacks Research upgraded T. Rowe Price Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating on the stock in a research note on Friday, April 24th. Finally, Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $95.00 to $107.00 and gave the company a "market perform" rating in a research report on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and an average price target of $100.54.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Trading Down 0.8%

T. Rowe Price Group stock opened at $117.05 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $121.17. The firm has a 50-day moving average price of $107.24 and a 200-day moving average price of $100.76. The firm has a market capitalization of $25.08 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 5.99 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $2.23 EPS. The firm's revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group's dividend payout ratio is 55.73%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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