T. Rowe Price Group, Inc. $TROW Shares Acquired by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC increased its holdings in T. Rowe Price Group by 125.5%, owning a total of 8,866 shares valued at approximately $856,000 as of its latest SEC filing.
• Insider trading activity was noted with Director Robert F. Maclellan selling 3,090 shares, reducing his ownership by 6.13% to approximately 47,335 shares.
• The latest earnings report revealed T. Rowe Price Group exceeded analysts' expectations with earnings per share of $2.24, although revenue decreased slightly by 0.6% year-over-year.

Belpointe Asset Management LLC lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 125.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,866 shares of the asset manager's stock after purchasing an additional 4,935 shares during the quarter. Belpointe Asset Management LLC's holdings in T. Rowe Price Group were worth $856,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in T. Rowe Price Group in the first quarter valued at $27,000. Hexagon Capital Partners LLC boosted its holdings in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after acquiring an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in T. Rowe Price Group in the first quarter valued at $39,000. Chilton Capital Management LLC acquired a new position in T. Rowe Price Group in the first quarter valued at $41,000. Finally, Cromwell Holdings LLC boosted its holdings in T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager's stock valued at $41,000 after acquiring an additional 418 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director directly owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TROW shares. Weiss Ratings reiterated a "hold (c)" rating on shares of T. Rowe Price Group in a report on Wednesday. Evercore ISI reiterated a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. The Goldman Sachs Group lifted their target price on T. Rowe Price Group from $91.00 to $92.00 and gave the company a "sell" rating in a report on Friday, October 3rd. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Finally, Zacks Research lowered T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $104.92.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $105.82 on Thursday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a market capitalization of $23.25 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 6.82 and a beta of 1.50. The business's 50-day moving average is $105.76 and its two-hundred day moving average is $98.32.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company earned $2.26 earnings per share. The company's revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group's payout ratio is presently 56.76%.

About T. Rowe Price Group

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.