Trek Financial LLC Buys New Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Trek Financial LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,541 shares of the asset manager's stock, valued at approximately $325,000.

A number of other large investors have also added to or reduced their stakes in TROW. Curio Wealth LLC purchased a new position in T. Rowe Price Group during the fourth quarter valued at approximately $27,000. Ameriflex Group Inc. purchased a new position in T. Rowe Price Group during the fourth quarter valued at approximately $42,000. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 44.8% during 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 in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in T. Rowe Price Group during the first quarter valued at approximately $39,000. Finally, Chilton Capital Management LLC purchased a new position in T. Rowe Price Group during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TROW. Barclays boosted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. The Goldman Sachs Group reduced their target price 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. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Finally, Citigroup cut their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $95.82.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction 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 directly owned 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Trading Down 1.3%

NASDAQ TROW traded down $1.35 on Friday, reaching $101.61. 824,890 shares of the stock were exchanged, compared to its average volume of 1,541,415. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The company's 50-day simple moving average is $95.24 and its two-hundred day simple moving average is $99.44. The firm has a market capitalization of $22.39 billion, a PE ratio of 11.52, a PEG ratio of 3.25 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm posted $2.38 EPS. The company's revenue was up .8% on a year-over-year basis. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.

T. Rowe Price Group Company 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.