San Luis Wealth Advisors LLC Buys New Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

San Luis Wealth Advisors LLC purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,589 shares of the asset manager's stock, valued at approximately $514,000.

Other institutional investors have also recently made changes to their positions in the company. Glenview Trust co grew its holdings in shares of T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after purchasing an additional 92 shares during the last quarter. Addison Advisors LLC grew its holdings 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 purchasing an additional 93 shares during the last quarter. Advantage Trust Co grew its holdings in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in T. Rowe Price Group by 3.5% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,996 shares of the asset manager's stock worth $339,000 after acquiring an additional 102 shares during the last quarter. Finally, Strategy Asset Managers LLC grew its holdings in T. Rowe Price Group by 5.0% in the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock worth $258,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Up 0.6%

T. Rowe Price Group stock traded up $0.56 during trading hours on Wednesday, hitting $92.14. The stock had a trading volume of 1,044,939 shares, compared to its average volume of 1,511,517. The stock has a market capitalization of $20.30 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 2.97 and a beta of 1.49. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock's 50-day moving average price is $91.94 and its 200-day moving average price is $102.00.

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

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.51%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup cut their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. TD Cowen cut their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company dropped their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Barclays raised 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 report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $94.09.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 968 shares of the business's 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 completion of the transaction, the insider now directly owns 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,923 shares of company stock valued at $646,856. 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.