Integrated Advisors Network LLC Buys Shares of 2,946 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Integrated Advisors Network LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 2,946 shares of the asset manager's stock, valued at approximately $271,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Addison Advisors LLC raised its position in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $27,000. Stonebridge Financial Group LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $32,000. Advantage Trust Co grew its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after buying an additional 100 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $42,000. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $91.58 on Friday. The company's 50-day moving average price is $91.66 and its two-hundred day moving average price is $102.44. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a market capitalization of $20.18 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

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 the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the previous year, the firm posted $2.38 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.55%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TROW. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Evercore ISI decreased their price target 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. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company decreased their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Barclays upped their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $94.09.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president now directly owns 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,923 shares of company stock valued at $646,856 in the last three months. 2.00% of the stock is currently owned by corporate 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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