Inceptionr LLC Purchases Shares of 18,275 T. Rowe Price Group, Inc. $TROW

Inceptionr LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 1st quarter, Holdings Channel.com reports. The fund acquired 18,275 shares of the asset manager’s stock, valued at approximately $1,647,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Woodline Partners LP grew its holdings in shares of T. Rowe Price Group by 41.0% during the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after purchasing an additional 5,467 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of T. Rowe Price Group by 44.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after buying an additional 478 shares during the last quarter. Jump Financial LLC acquired a new position in T. Rowe Price Group during the 2nd quarter worth about $931,000. Finally, Daiwa Securities Group Inc. lifted its position in T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after buying an additional 1,703 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Down 0.9%

T. Rowe Price Group stock opened at $114.95 on Friday. The company has a market cap of $24.63 billion, a PE ratio of 12.32, a PEG ratio of 4.16 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $121.17. The company’s 50-day moving average is $109.89 and its two-hundred day moving average is $101.67.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.23 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 10.12 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a dividend of $1.30 per share. The ex-dividend date was Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.5%. T. Rowe Price Group’s payout ratio is presently 55.73%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TROW. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating for the company in a research report on Monday. Jefferies Financial Group reduced their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Barclays raised their price target on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the company an “underweight” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Finally, BMO Capital Markets upped their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $104.50.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.