Sylvest Advisors LLC Takes $697,000 Position in T. Rowe Price Group, Inc. $TROW

Sylvest Advisors LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the first quarter, Holdings Channel reports. The institutional investor acquired 7,734 shares of the asset manager’s stock, valued at approximately $697,000.

Several other large investors have also made changes to their positions in TROW. TD Private Client Wealth LLC grew its holdings in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares during the period. Canton Hathaway LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $31,000. Sound Income Strategies LLC lifted its holdings in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the last quarter. Finally, DV Equities LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. BMO Capital Markets raised their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Evercore lifted their price objective on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. Barclays boosted their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a report on Friday, May 1st. Finally, Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $100.38.

T. Rowe Price Group Price Performance

TROW opened at $110.27 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $118.22. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 5.67 and a beta of 1.50. The firm has a 50 day simple moving average of $103.94 and a 200 day simple moving average of $99.95.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the business earned $2.23 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.58 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group 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.