Hohimer Wealth Management LLC Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hohimer Wealth Management LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 36,801 shares of the asset manager's stock, valued at approximately $3,381,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after purchasing an additional 135,203 shares during the period. Fayez Sarofim & Co boosted its holdings in T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after acquiring an additional 425,142 shares during the period. Geode Capital Management LLC raised its position in T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after purchasing an additional 116,231 shares during the last quarter. Invesco Ltd. raised its position in T. Rowe Price Group by 1.7% during the 4th quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock valued at $271,169,000 after purchasing an additional 40,514 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of T. Rowe Price Group by 10.0% in the 4th quarter. Northern Trust Corp now owns 2,290,739 shares of the asset manager's stock worth $259,060,000 after acquiring an additional 208,304 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 1.4%

Shares of TROW stock opened at $101.47 on Monday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a market cap of $22.36 billion, a PE ratio of 11.50, a P/E/G ratio of 3.10 and a beta of 1.49. The company's fifty day simple moving average is $95.44 and its 200-day simple moving average is $99.08.

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

T. Rowe Price Group Dividend Announcement

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 dividend of $1.27 per share. The ex-dividend date was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.01%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. Evercore ISI dropped their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, April 11th. Bank of America dropped their price objective on 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. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company lifted their price target 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. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group has an average rating of "Hold" and an average price target of $95.82.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the business's 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 completion of the sale, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

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.

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