United Community Bank Raises Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

United Community Bank grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 27.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,118 shares of the asset manager's stock after purchasing an additional 3,898 shares during the period. United Community Bank's holdings in T. Rowe Price Group were worth $1,665,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TROW. Curio Wealth LLC purchased a new position in T. Rowe Price Group in the fourth quarter worth about $27,000. Hexagon Capital Partners LLC grew its position 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 worth $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 in the first quarter worth about $39,000. Chilton Capital Management LLC purchased a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $41,000. Finally, Ameriflex Group Inc. purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insiders Place Their Bets

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was 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 owned 44,789 shares in the company, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Down 1.4%

Shares of NASDAQ:TROW opened at $101.47 on Monday. The firm has a 50 day moving average of $95.44 and a 200 day moving average of $99.08. The company has a market capitalization of $22.36 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.49. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

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

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.01%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Analysts Set New Price Targets

Several research analysts have issued reports on TROW shares. Evercore ISI dropped their target price on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. TD Cowen dropped their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company boosted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Morgan Stanley boosted their target price on 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. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $95.82.

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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