T. Rowe Price Group, Inc. $TROW Shares Sold by Beacon Financial Group

Beacon Financial Group cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 83.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,373 shares of the asset manager’s stock after selling 17,616 shares during the quarter. Beacon Financial Group’s holdings in T. Rowe Price Group were worth $304,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its stake in shares of T. Rowe Price Group by 91.8% during 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 stake in shares of T. Rowe Price Group by 540.9% in the fourth 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 last quarter. Canton Hathaway LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $31,000. Sound Income Strategies LLC boosted its stake in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. Finally, DV Equities LLC bought a new position in T. Rowe Price Group during the 4th quarter valued at $32,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 1.3%

TROW opened at $118.55 on Friday. The firm has a market cap of $25.40 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 5.91 and a beta of 1.47. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $121.17. The company’s 50-day moving average price is $107.60 and its 200 day moving average price is $100.88.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.T. Rowe Price Group’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.23 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.76 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

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

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president directly 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 Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. Evercore set a $121.00 price target on shares of T. Rowe Price Group in a research report on Friday. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. BMO Capital Markets boosted their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group upped their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Ten investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $101.83.

T. Rowe Price Group Company 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.