Inceptionr LLC Purchases Shares of 18,275 T. Rowe Price Group, Inc. $TROW

Key Points

• Inceptionr LLC disclosed a new stake in T. Rowe Price Group, buying 18,275 shares worth about $1.65 million in the first quarter.
• T. Rowe Price reported better-than-expected quarterly results, with EPS of $2.52 topping estimates and revenue of $1.86 billion slightly ahead of forecasts.
• The company paid a $1.30 quarterly dividend, equal to an annualized yield of about 4.5%, while analysts currently have a cautious overall view with an average rating of “Reduce”.

Inceptionr LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,275 shares of the asset manager's stock, valued at approximately $1,647,000.

Other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock valued at $2,259,000 after purchasing an additional 100 shares during the period. MTM Investment Management LLC increased its position in T. Rowe Price Group by 3.5% in the 4th quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager's stock worth $324,000 after buying an additional 107 shares during the period. GenTrust LLC lifted its holdings in shares of T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager's stock worth $216,000 after buying an additional 110 shares during the last quarter. Fiduciary Trust Co lifted its holdings in shares of T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock worth $265,000 after buying an additional 111 shares during the last quarter. Finally, 1834 Investment Advisors Co. boosted its position in shares of T. Rowe Price Group by 0.3% in the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager's stock valued at $3,838,000 after acquiring an additional 115 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $114.95 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $121.17. The stock has a market cap of $24.63 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 4.16 and a beta of 1.47. The firm has a fifty day moving average of $109.89 and a 200-day moving average of $101.67.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.23 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group's dividend payout ratio is currently 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 83,883 shares of the company's stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Zacks Research raised shares of T. Rowe Price Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the stock a "market perform" rating in a research report on Friday, July 10th. Evercore set a $121.00 price objective on shares of T. Rowe Price Group in a report on Friday, July 10th. Barclays increased their target price on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the company an "underweight" rating in a research note on Tuesday, July 14th. Finally, TD Cowen decreased their target price on T. Rowe Price Group from $108.00 to $107.00 and set a "hold" rating on the stock in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $104.50.

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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