IFG Advisory LLC Acquires 5,307 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• IFG Advisory LLC increased its holdings in T. Rowe Price Group by 22.2% in the first quarter, bringing its total shares to 29,200, valued at $2,683,000.
• The asset manager reported $2.24 earnings per share for the last quarter, surpassing analyst expectations of $2.15, although revenue declined by 0.6% year-over-year.
• T. Rowe Price Group's recent quarterly dividend was $1.27, reflecting an annualized yield of 4.9% with a dividend payout ratio of 57.60%.

IFG Advisory LLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 22.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,200 shares of the asset manager's stock after buying an additional 5,307 shares during the period. IFG Advisory LLC's holdings in T. Rowe Price Group were worth $2,683,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TROW. Commerce Bank lifted its stake in shares of T. Rowe Price Group by 5.4% in the 1st quarter. Commerce Bank now owns 93,221 shares of the asset manager's stock valued at $8,564,000 after purchasing an additional 4,781 shares during the last quarter. Jefferies Financial Group Inc. increased its holdings in shares of T. Rowe Price Group by 180.7% during the 1st quarter. Jefferies Financial Group Inc. now owns 64,227 shares of the asset manager's stock worth $5,901,000 after purchasing an additional 41,347 shares during the period. Seizert Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 5.3% during the 1st quarter. Seizert Capital Partners LLC now owns 135,691 shares of the asset manager's stock worth $12,466,000 after purchasing an additional 6,807 shares during the period. Arkadios Wealth Advisors bought a new position in shares of T. Rowe Price Group during the 1st quarter worth about $933,000. Finally, XTX Topco Ltd bought a new position in shares of T. Rowe Price Group during the 1st quarter worth about $258,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen decreased 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. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research report on Monday, April 14th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, Citigroup lowered their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and a consensus price target of $101.09.

T. Rowe Price Group Stock Down 0.5%

Shares of NASDAQ TROW traded down $0.57 during mid-day trading on Thursday, reaching $104.85. 92,643 shares of the company were exchanged, compared to its average volume of 1,830,096. The company's 50-day simple moving average is $99.07 and its 200-day simple moving average is $98.27. The stock has a market capitalization of $23.04 billion, a P/E ratio of 11.71, a P/E/G ratio of 2.87 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The business's revenue was down .6% on a year-over-year basis. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group's payout ratio is 56.76%.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 directly owned 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.