T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.3% in the first quarter, Holdings Channel reports. The firm owned 2,488 shares of the asset manager’s stock after acquiring an additional 212 shares during the period. Riverbend Wealth Management LLC’s holdings in T. Rowe Price Group were worth $229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Addison Advisors LLC grew its stake in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter valued at $27,000. Ameriflex Group Inc. purchased a new stake in T. Rowe Price Group during the 4th quarter worth $42,000. Summit Securities Group LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth $57,000. Finally, CX Institutional acquired a new stake in T. Rowe Price Group in the 1st quarter valued at $57,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.2%

T. Rowe Price Group stock opened at $95.10 on Wednesday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market cap of $20.95 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.49. The stock has a 50 day moving average of $92.44 and a 200-day moving average of $100.94.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the company posted $2.38 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.34%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 57.60%.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,923 shares of company stock valued at $646,856. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. Barclays boosted their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Morgan Stanley upped their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Citigroup dropped their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI decreased their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, April 11th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $94.09.

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.