Geneos Wealth Management Inc. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 97.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,108 shares of the asset manager’s stock after selling 42,541 shares during the period. Geneos Wealth Management Inc.’s holdings in T. Rowe Price Group were worth $125,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of TROW. Fairfield Bush & CO. bought a new position in T. Rowe Price Group during the first quarter valued at $150,000. Roundview Capital LLC bought a new position in T. Rowe Price Group during the first quarter valued at $2,092,000. Cibc World Market Inc. increased its position in T. Rowe Price Group by 75.9% during the first quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager’s stock valued at $4,092,000 after acquiring an additional 11,675 shares during the last quarter. Dimensional Fund Advisors LP increased its position in T. Rowe Price Group by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager’s stock valued at $175,099,000 after acquiring an additional 60,580 shares during the last quarter. Finally, Prudential PLC increased its position in T. Rowe Price Group by 47.1% during the first quarter. Prudential PLC now owns 12,117 shares of the asset manager’s stock valued at $1,832,000 after acquiring an additional 3,880 shares during the last quarter. Institutional investors own 76.70% of the company’s stock.
Insider Buying and Selling at T. Rowe Price Group
In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,881 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $106.66, for a total transaction of $200,627.46. Following the completion of the sale, the insider now directly owns 11,628 shares of the company’s stock, valued at $1,240,242.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.
T. Rowe Price Group Price Performance
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its quarterly earnings data on Tuesday, May 2nd. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.07. T. Rowe Price Group had a net margin of 22.90% and a return on equity of 17.92%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. The firm’s revenue for the quarter was down 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.62 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 6.78 EPS for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Wednesday, June 14th. T. Rowe Price Group’s payout ratio is 79.87%.
Analyst Ratings Changes
A number of research analysts have weighed in on TROW shares. Citigroup boosted their price objective on shares of T. Rowe Price Group from $98.00 to $100.00 and gave the company a “sell” rating in a research report on Friday. StockNews.com assumed coverage on shares of T. Rowe Price Group in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Bank of America lowered their target price on shares of T. Rowe Price Group from $78.00 to $72.00 and set an “underperform” rating for the company in a research note on Wednesday, April 5th. Evercore ISI lowered their target price on shares of T. Rowe Price Group from $101.00 to $98.00 and set an “in-line” rating for the company in a research note on Thursday, April 13th. Finally, VNET Group reissued a “maintains” rating on shares of T. Rowe Price Group in a research note on Wednesday, May 3rd. Six equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.91.
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.
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