IFG Advisory LLC Grows Stake in T. Rowe Price Group, Inc. $TROW

IFG Advisory LLC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,999 shares of the asset manager’s stock after purchasing an additional 799 shares during the period. IFG Advisory LLC’s holdings in T. Rowe Price Group were worth $2,895,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TROW. Zions Bancorporation National Association UT purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $27,000. Hexagon Capital Partners LLC increased its stake in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after purchasing an additional 113 shares in the last quarter. Curio Wealth LLC grew its stake in T. Rowe Price Group by 20,700.0% during the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 414 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in T. Rowe Price Group during the 1st quarter valued at about $41,000. Finally, Cromwell Holdings LLC grew its stake in T. Rowe Price Group by 3,483.3% during the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $102.53 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a market capitalization of $22.53 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. The company has a fifty day moving average of $105.08 and a 200-day moving average of $100.13.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the business earned $2.57 EPS. The business’s revenue was up 6.0% on a year-over-year basis. Equities analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. T. Rowe Price Group’s payout ratio is presently 56.76%.

Analyst Ratings Changes

Several brokerages recently issued reports on TROW. Jefferies Financial Group upped their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $102.00 to $109.00 and gave the company an “underweight” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a research note on Friday, October 3rd. Finally, Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $107.62.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.

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.