Insight Advisors LLC PA Takes Position in T. Rowe Price Group, Inc. $TROW

Insight Advisors LLC PA purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 16,352 shares of the asset manager’s stock, valued at approximately $1,474,000.

A number of other hedge funds also recently modified their holdings of the stock. ABN Amro Investment Solutions lifted its stake in T. Rowe Price Group by 11.6% in the first quarter. ABN Amro Investment Solutions now owns 7,333 shares of the asset manager’s stock valued at $661,000 after purchasing an additional 765 shares during the last quarter. Oslo Pensjonsforsikring AS bought a new position in T. Rowe Price Group during the first quarter valued at $228,000. Cassaday & Co Wealth Management LLC purchased a new stake in T. Rowe Price Group in the first quarter worth $113,000. Basepoint Wealth LLC increased its position in T. Rowe Price Group by 5,476.0% in the first quarter. Basepoint Wealth LLC now owns 5,576 shares of the asset manager’s stock worth $503,000 after buying an additional 5,476 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of T. Rowe Price Group by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,124,696 shares of the asset manager’s stock valued at $191,512,000 after buying an additional 37,642 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $117.61 on Wednesday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $121.17. The business has a fifty day moving average price of $109.38 and a 200-day moving average price of $101.50. The firm has a market capitalization of $25.20 billion, a P/E ratio of 12.61, a PEG ratio of 4.20 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the business earned $2.23 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.07 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s payout ratio is presently 55.73%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of recent research reports. Morgan Stanley upped their price target on T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Jefferies Financial Group decreased their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. TD Cowen lowered their price objective on T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a research note on Monday. Evercore set a $121.00 price objective on shares of T. Rowe Price Group in a report on Friday, July 10th. Finally, BMO Capital Markets increased their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $104.50.

Insiders Place Their Bets

In other news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

About T. Rowe Price Group

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.