Beacon Investment Advisory Services Inc. Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Beacon Investment Advisory Services Inc. lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,004 shares of the asset manager’s stock after buying an additional 4,990 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in T. Rowe Price Group were worth $8,047,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its position in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the period. First United Bank & Trust acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth $31,000. Park Place Capital Corp grew its holdings in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth $33,000. Finally, CVA Family Office LLC acquired a new position in T. Rowe Price Group in the 4th quarter worth $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders sold 6,444 shares of company stock worth $740,408 over the last ninety days. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Trading Down 1.3 %

Shares of T. Rowe Price Group stock traded down $1.49 on Thursday, reaching $116.66. 835,455 shares of the company were exchanged, compared to its average volume of 1,300,636. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The firm has a market capitalization of $26.05 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.83 and a beta of 1.42. The stock has a fifty day moving average price of $116.41 and a 200-day moving average price of $113.70.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 earnings per share. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.96 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.25%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 10th. Citigroup upped their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $120.00 to $121.00 and gave the stock a “market perform” rating in a report on Friday, July 12th. UBS Group lifted 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $113.10.

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.