IFG Advisory LLC Sells 227 Shares of T. Rowe Price Group Inc (TROW)

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IFG Advisory LLC cut its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.3% in the 1st quarter, Holdings Channel reports. The firm owned 9,528 shares of the asset manager’s stock after selling 227 shares during the period. IFG Advisory LLC’s holdings in T. Rowe Price Group were worth $954,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TROW. Northwest Investment Counselors LLC raised its holdings in shares of T. Rowe Price Group by 0.7% during the first quarter. Northwest Investment Counselors LLC now owns 13,426 shares of the asset manager’s stock valued at $1,344,000 after acquiring an additional 96 shares during the period. Curbstone Financial Management Corp increased its stake in T. Rowe Price Group by 1.3% in the 1st quarter. Curbstone Financial Management Corp now owns 7,590 shares of the asset manager’s stock valued at $760,000 after buying an additional 100 shares during the period. Unison Advisors LLC increased its stake in T. Rowe Price Group by 0.8% in the 1st quarter. Unison Advisors LLC now owns 13,484 shares of the asset manager’s stock valued at $1,350,000 after buying an additional 101 shares during the period. Mid Atlantic Financial Management Inc. ADV increased its stake in T. Rowe Price Group by 1.4% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,352 shares of the asset manager’s stock valued at $736,000 after buying an additional 103 shares during the period. Finally, ETF Managers Group LLC increased its stake in T. Rowe Price Group by 8.6% in the 1st quarter. ETF Managers Group LLC now owns 1,344 shares of the asset manager’s stock valued at $135,000 after buying an additional 107 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

TROW stock opened at $102.79 on Friday. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $24.99 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. T. Rowe Price Group Inc has a 12 month low of $84.59 and a 12 month high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, April 24th. The asset manager reported $1.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.26. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 earnings per share. On average, equities research analysts predict that T. Rowe Price Group Inc will post 7.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, June 13th. T. Rowe Price Group’s dividend payout ratio is 42.52%.

TROW has been the topic of several research reports. BidaskClub upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Wednesday, April 3rd. Barclays upped their price objective on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the company an “underweight” rating in a research note on Thursday, April 25th. Morgan Stanley set a $101.00 price objective on shares of T. Rowe Price Group and gave the company a “hold” rating in a research note on Friday, February 8th. Finally, Gabelli reiterated a “buy” rating on shares of T. Rowe Price Group in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $106.75.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 2,617 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total value of $263,610.41. Following the completion of the sale, the vice president now directly owns 448,651 shares of the company’s stock, valued at $45,192,615.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward C. Bernard sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $107.92, for a total transaction of $2,158,400.00. Following the completion of the sale, the insider now directly owns 649,135 shares of the company’s stock, valued at $70,054,649.20. The disclosure for this sale can be found here. Insiders sold 67,735 shares of company stock valued at $7,289,340 over the last three months. Insiders own 3.10% of the company’s stock.

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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.

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

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