Dfpg Investments LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Dfpg Investments LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) in the 1st quarter, HoldingsChannel.com reports. The firm bought 3,184 shares of the asset manager’s stock, valued at approximately $359,000.

Several other large investors have also modified their holdings of TROW. Heritage Wealth Management LLC boosted its holdings in shares of T. Rowe Price Group by 130.0% in the 4th quarter. Heritage Wealth Management LLC now owns 230 shares of the asset manager’s stock valued at $25,000 after buying an additional 130 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 61.3% in the 4th quarter. Beacon Capital Management LLC now owns 250 shares of the asset manager’s stock valued at $27,000 after buying an additional 95 shares in the last quarter. Asset Dedication LLC boosted its stake in T. Rowe Price Group by 173.8% during the 4th quarter. Asset Dedication LLC now owns 293 shares of the asset manager’s stock worth $32,000 after purchasing an additional 186 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in T. Rowe Price Group during the 4th quarter worth $32,000. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in T. Rowe Price Group during the 4th quarter worth $37,000. Institutional investors and hedge funds own 76.70% of the company’s stock.

T. Rowe Price Group Stock Down 0.2 %

Shares of NASDAQ TROW opened at $106.33 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $93.53 and a 52 week high of $134.64. The firm has a 50-day moving average price of $109.16 and a 200 day moving average price of $112.32. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

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T. Rowe Price Group (NASDAQ:TROW – Get Rating) last announced its earnings results on Tuesday, May 2nd. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.07. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. T. Rowe Price Group had a net margin of 22.90% and a return on equity of 17.92%. The firm’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.62 earnings per share. Equities research analysts expect that T. Rowe Price Group, Inc. will post 6.64 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Wednesday, June 14th. T. Rowe Price Group’s payout ratio is currently 79.87%.

Analysts Set New Price Targets

TROW has been the subject of a number of recent research reports. VNET Group reiterated a “maintains” rating on shares of T. Rowe Price Group in a research note on Wednesday, May 3rd. Bank of America decreased their price target on shares of T. Rowe Price Group from $78.00 to $72.00 and set an “underperform” rating for the company in a research note on Wednesday, April 5th. StockNews.com began coverage on shares of T. Rowe Price Group in a research note on Thursday, May 18th. They set a “hold” rating for the company. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $101.00 to $98.00 and set an “in-line” rating for the company in a research note on Thursday, April 13th. Finally, Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, April 14th. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $93.73.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,881 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $106.66, for a total transaction of $200,627.46. Following the completion of the transaction, the insider now owns 11,628 shares in the company, valued at $1,240,242.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by company insiders.

T. Rowe Price Group Company Profile

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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.