Stratos Wealth Partners LTD. lowered its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 25.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,673 shares of the asset manager’s stock after selling 1,248 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in T. Rowe Price Group were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Reilly Financial Advisors LLC lifted its position in shares of T. Rowe Price Group by 66.3% during the 4th quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock worth $27,000 after buying an additional 118 shares in the last quarter. Ruggie Capital Group bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth approximately $29,000. Financial Gravity Companies Inc. bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $30,000. Finally, Pearl River Capital LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $31,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.
TROW stock traded up $0.34 during midday trading on Friday, reaching $103.13. 9,224 shares of the company’s stock traded hands, compared to its average volume of 1,302,154. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.74 and a quick ratio of 3.74. T. Rowe Price Group Inc has a 52 week low of $84.59 and a 52 week high of $127.43. The stock has a market capitalization of $24.99 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.56 and a beta of 1.06.
T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, April 24th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.26. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group Inc will post 7.52 EPS for the current 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 issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.04 dividend on an annualized basis and a yield of 2.95%. T. Rowe Price Group’s payout ratio is 42.52%.
In other T. Rowe Price Group news, insider Edward C. Bernard sold 20,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $107.92, for a total transaction of $2,158,400.00. Following the sale, the insider now owns 649,135 shares of the company’s stock, valued at approximately $70,054,649.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP W. Sharps Robert sold 2,617 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total transaction of $263,610.41. Following the sale, the vice president now directly owns 448,651 shares in the company, valued at approximately $45,192,615.23. The disclosure for this sale can be found here. Insiders have sold a total of 67,735 shares of company stock worth $7,289,340 in the last three months. Insiders own 3.10% of the company’s stock.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a report on Wednesday, April 3rd. Bank of America set a $112.00 price target on shares of T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, April 9th. Jefferies Financial Group lifted their price target on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Gabelli reaffirmed a “buy” rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $106.75.
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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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