Walser Wealth Management Company A Ltd Liability Co acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,960 shares of the asset manager’s stock, valued at approximately $447,000.
Other institutional investors have also added to or reduced their stakes in the company. MTM Investment Management LLC boosted its holdings in shares of T. Rowe Price Group by 3.5% during the 4th quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock valued at $324,000 after buying an additional 107 shares in the last quarter. GenTrust LLC increased its stake in shares of T. Rowe Price Group by 5.5% in the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after acquiring an additional 110 shares in the last quarter. Fiduciary Trust Co increased its stake in shares of T. Rowe Price Group by 4.5% in the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after acquiring an additional 111 shares in the last quarter. 1834 Investment Advisors Co. lifted its position in T. Rowe Price Group by 0.3% during the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock valued at $3,838,000 after acquiring an additional 115 shares during the period. Finally, Allworth Financial LP boosted its stake in T. Rowe Price Group by 2.1% during the fourth quarter. Allworth Financial LP now owns 5,541 shares of the asset manager’s stock worth $567,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.
T. Rowe Price Group Stock Up 1.4%
T. Rowe Price Group stock traded up $1.71 during trading hours on Tuesday, hitting $120.83. The stock had a trading volume of 372,201 shares, compared to its average volume of 2,241,701. The stock’s 50-day moving average price is $105.76 and its 200-day moving average price is $100.34. The stock has a market capitalization of $25.89 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 6.02 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 Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were issued a $1.30 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.3%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on TROW. TD Cowen upped their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Evercore boosted their price target on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $100.54.
Get Our Latest Analysis on T. Rowe Price Group
Insider Buying and Selling at T. Rowe Price Group
In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s 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 completion of the transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.
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.
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