Hoxton Planning & Management LLC Buys New Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hoxton Planning & Management LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,672 shares of the asset manager’s stock, valued at approximately $204,000.

Several other hedge funds also recently modified their holdings of the company. West Coast Financial LLC acquired a new position in shares of T. Rowe Price Group during the 1st quarter valued at $272,000. Central Valley Advisors LLC acquired a new position in shares of T. Rowe Price Group during the 1st quarter valued at $223,000. Unison Advisors LLC increased its position in shares of T. Rowe Price Group by 1.7% during the 1st quarter. Unison Advisors LLC now owns 16,552 shares of the asset manager’s stock valued at $2,018,000 after purchasing an additional 278 shares during the period. Lane & Associates LLC boosted its stake in shares of T. Rowe Price Group by 5.7% during the 1st quarter. Lane & Associates LLC now owns 2,012 shares of the asset manager’s stock worth $245,000 after acquiring an additional 108 shares in the last quarter. Finally, FCF Advisors LLC boosted its stake in shares of T. Rowe Price Group by 8.8% during the 1st quarter. FCF Advisors LLC now owns 21,223 shares of the asset manager’s stock worth $2,588,000 after acquiring an additional 1,715 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale 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 the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Down 1.2 %

Shares of NASDAQ TROW traded down $1.47 during mid-day trading on Tuesday, hitting $117.41. 804,537 shares of the company were exchanged, compared to its average volume of 1,353,473. The stock has a 50 day simple moving average of $114.51 and a 200-day simple moving average of $112.46. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The firm has a market cap of $26.22 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 2.02 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company posted $1.69 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. Analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.22%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Analyst Ratings Changes

TROW has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Evercore ISI lowered their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Finally, UBS Group increased their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $112.10.

View Our Latest Stock Analysis on TROW

T. Rowe Price Group Company Profile

(Free Report)

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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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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