T. Rowe Price Group, Inc. $TROW Shares Purchased by Basepoint Wealth LLC

Basepoint Wealth LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5,476.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,576 shares of the asset manager’s stock after buying an additional 5,476 shares during the quarter. Basepoint Wealth LLC’s holdings in T. Rowe Price Group were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC boosted its holdings in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of 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 valued at $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC acquired a new stake in T. Rowe Price Group in the 4th quarter worth approximately $31,000. Sound Income Strategies LLC boosted its stake in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares in the last quarter. Finally, DV Equities LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth approximately $32,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TROW. Barclays raised their price target on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a report on Tuesday, July 14th. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. TD Cowen raised their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Evercore set a $121.00 price target on T. Rowe Price Group in a research report on Friday, July 10th. Finally, Jefferies Financial Group dropped their price target on 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $103.42.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group 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 completion of the transaction, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $117.35 on Monday. The company has a 50 day simple moving average of $108.85 and a two-hundred day simple moving average of $101.30. The stock has a market cap of $25.14 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 4.23 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share 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 for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the business earned $2.23 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts forecast that T. Rowe Price Group, Inc. will post 10.07 EPS for the current year.

T. Rowe Price Group Dividend Announcement

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

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.