Brady Family Wealth LLC Acquires 433 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brady Family Wealth LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 21,245 shares of the asset manager’s stock after purchasing an additional 433 shares during the period. Brady Family Wealth LLC’s holdings in T. Rowe Price Group were worth $1,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Addison Advisors LLC lifted its position in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC bought a new stake in T. Rowe Price Group in the fourth quarter valued at about $27,000. Advantage Trust Co increased its stake in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares during the period. Ameriflex Group Inc. bought a new position in T. Rowe Price Group during the fourth quarter worth about $42,000. Finally, Summit Securities Group LLC bought a new position in T. Rowe Price Group during the fourth quarter worth about $57,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup dropped their target price on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Wells Fargo & Company lowered their price target on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Bank of America cut their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. TD Cowen lowered their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $94.09.

Insider Activity

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president now owns 44,789 shares in the company, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,923 shares of company stock valued at $646,856 in the last 90 days. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

TROW opened at $92.14 on Friday. The stock has a market capitalization of $20.30 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 2.99 and a beta of 1.49. The company’s 50 day simple moving average is $92.11 and its 200-day simple moving average is $101.72. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm earned $2.38 EPS. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s payout ratio is 57.60%.

About T. Rowe Price Group

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.