Wealthspire Advisors LLC Raises Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthspire Advisors LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% in the 4th quarter, HoldingsChannel reports. The firm owned 13,934 shares of the asset manager’s stock after purchasing an additional 514 shares during the quarter. Wealthspire Advisors LLC’s holdings in T. Rowe Price Group were worth $1,501,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in T. Rowe Price Group by 19.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,659 shares of the asset manager’s stock worth $7,305,000 after purchasing an additional 11,354 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of T. Rowe Price Group by 3.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 44,553 shares of the asset manager’s stock valued at $4,672,000 after purchasing an additional 1,281 shares during the last quarter. Advisor Partners II LLC boosted its position in shares of T. Rowe Price Group by 20.2% in the 3rd quarter. Advisor Partners II LLC now owns 16,619 shares of the asset manager’s stock valued at $1,743,000 after purchasing an additional 2,796 shares during the period. Graypoint LLC grew its stake in T. Rowe Price Group by 34.7% during the 3rd quarter. Graypoint LLC now owns 2,448 shares of the asset manager’s stock worth $257,000 after buying an additional 630 shares during the last quarter. Finally, Simmons Bank increased its position in T. Rowe Price Group by 23.0% during the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after buying an additional 656 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TROW shares. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Evercore ISI lowered their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Citigroup upped their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, UBS Group boosted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $112.10.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock valued at $1,500,133 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 0.2 %

TROW stock traded down $0.19 during mid-day trading on Thursday, hitting $111.30. 1,729,639 shares of the company were exchanged, compared to its average volume of 1,450,859. The company has a market capitalization of $24.85 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. The firm has a fifty day simple moving average of $115.22 and a 200 day simple moving average of $107.71. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company earned $1.69 earnings per share. T. Rowe Price Group’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

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.