T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Raised by Avantax Advisory Services Inc.

Posted by Defense World Staff on Jul 23rd, 2023

Avantax Advisory Services Inc. grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,052 shares of the asset manager’s stock after purchasing an additional 278 shares during the period. Avantax Advisory Services Inc.’s holdings in T. Rowe Price Group were worth $1,474,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Heritage Wealth Management LLC lifted its holdings in shares of T. Rowe Price Group by 130.0% during the fourth quarter. Heritage Wealth Management LLC now owns 230 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in shares of T. Rowe Price Group by 61.3% during the fourth quarter. Beacon Capital Management LLC now owns 250 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 95 shares during the last quarter. Pacifica Partners Inc. lifted its holdings in shares of T. Rowe Price Group by 400.0% during the first quarter. Pacifica Partners Inc. now owns 250 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 200 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in T. Rowe Price Group in the 4th quarter worth about $32,000. Finally, Asset Dedication LLC lifted its stake in T. Rowe Price Group by 173.8% in the 4th quarter. Asset Dedication LLC now owns 293 shares of the asset manager’s stock worth $32,000 after acquiring an additional 186 shares in the last quarter. 76.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TROW. Morgan Stanley increased their price objective on T. Rowe Price Group from $102.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, April 14th. Bank of America reduced their price objective on 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. 22nd Century Group reissued a “maintains” rating on shares of T. Rowe Price Group in a research note on Wednesday, May 3rd. StockNews.com began coverage on T. Rowe Price Group in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, VNET Group reaffirmed a “maintains” rating on shares of T. Rowe Price Group in a research note on Wednesday, May 3rd. Six analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.91.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $119.70 on Friday. The firm has a market cap of $26.88 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.94 and a beta of 1.29. The business’s 50-day simple moving average is $111.24 and its 200-day simple moving average is $112.36. T. Rowe Price Group, Inc. has a 52 week low of $93.53 and a 52 week high of $134.64.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its quarterly earnings data on Tuesday, May 2nd. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.07. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. T. Rowe Price Group had a return on equity of 17.92% and a net margin of 22.90%. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.62 EPS. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 6.79 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 Thursday, June 29th. Stockholders of record on Thursday, June 15th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Wednesday, June 14th. T. Rowe Price Group’s dividend payout ratio is 79.87%.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,881 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $106.66, for a total transaction of $200,627.46. Following the transaction, the insider now owns 11,628 shares of the company’s stock, valued at approximately $1,240,242.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

T. Rowe Price Group Company Profile

(Free Report)

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.