T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Bard Financial Services Inc.

Bard Financial Services Inc. lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,225 shares of the asset manager’s stock after acquiring an additional 400 shares during the quarter. Bard Financial Services Inc.’s holdings in T. Rowe Price Group were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth $27,000. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth $32,000. Advantage Trust Co increased its stake in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in T. Rowe Price Group during the 4th quarter worth $42,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Citigroup dropped their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. TD Cowen dropped their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Finally, Evercore ISI dropped their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $94.09.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. The trade was a 8.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares of the company’s stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $95.10 on Thursday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The company has a 50-day simple moving average of $91.17 and a 200-day simple moving average of $103.01. The firm has a market capitalization of $20.95 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. T. Rowe Price Group’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $2.38 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s payout ratio is 57.60%.

T. Rowe Price Group 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.