Beacon Financial Advisory LLC Takes $871,000 Position in T. Rowe Price Group, Inc. $TROW

Beacon Financial Advisory LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,505 shares of the asset manager’s stock, valued at approximately $871,000.

A number of other hedge funds have also modified their holdings of TROW. OMERS ADMINISTRATION Corp increased its position in T. Rowe Price Group by 6.6% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 28,959 shares of the asset manager’s stock worth $2,965,000 after purchasing an additional 1,790 shares during the last quarter. Truvestments Capital LLC increased its position in T. Rowe Price Group by 6.8% during the fourth quarter. Truvestments Capital LLC now owns 4,259 shares of the asset manager’s stock worth $436,000 after purchasing an additional 272 shares during the last quarter. USS Investment Management Ltd increased its position in T. Rowe Price Group by 0.6% during the fourth quarter. USS Investment Management Ltd now owns 39,051 shares of the asset manager’s stock worth $3,998,000 after purchasing an additional 223 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in T. Rowe Price Group by 6.2% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 62,307 shares of the asset manager’s stock worth $6,379,000 after purchasing an additional 3,659 shares during the last quarter. Finally, PYA Waltman Capital LLC increased its position in T. Rowe Price Group by 44.1% during the fourth quarter. PYA Waltman Capital LLC now owns 20,817 shares of the asset manager’s stock worth $2,131,000 after purchasing an additional 6,372 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $108.94 on Wednesday. The firm has a market cap of $23.34 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 5.56 and a beta of 1.50. The company has a 50-day moving average of $101.56 and a two-hundred day moving average of $99.72. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.23 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction 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. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Evercore raised their price objective on shares of T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Morgan Stanley set a $105.00 price objective on shares of T. Rowe Price Group in a research report on Monday, April 27th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $100.08.

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.