Abel Hall LLC Buys Shares of 4,022 T. Rowe Price Group, Inc. $TROW

Abel Hall LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,022 shares of the asset manager’s stock, valued at approximately $388,000.

Several other institutional investors have also added to or reduced their stakes in TROW. Gateway Investment Advisers LLC boosted its stake in T. Rowe Price Group by 13.9% during the 1st quarter. Gateway Investment Advisers LLC now owns 6,686 shares of the asset manager’s stock valued at $614,000 after purchasing an additional 815 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of T. Rowe Price Group by 16.5% in the 1st quarter. Park Avenue Securities LLC now owns 4,879 shares of the asset manager’s stock worth $448,000 after buying an additional 691 shares during the last quarter. Range Financial Group LLC boosted its stake in shares of T. Rowe Price Group by 51.2% in the 1st quarter. Range Financial Group LLC now owns 3,141 shares of the asset manager’s stock worth $289,000 after buying an additional 1,064 shares during the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of T. Rowe Price Group by 2.6% in the 1st quarter. Daymark Wealth Partners LLC now owns 6,823 shares of the asset manager’s stock worth $627,000 after buying an additional 171 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of T. Rowe Price Group by 75.8% in the 1st quarter. Farther Finance Advisors LLC now owns 7,949 shares of the asset manager’s stock worth $733,000 after buying an additional 3,427 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Evercore ISI restated a “positive” rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. Bank of America raised their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Morgan Stanley raised their price target on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a research note on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Saturday, September 27th. Finally, Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $104.83.

T. Rowe Price Group Trading Up 0.1%

Shares of NASDAQ:TROW opened at $105.78 on Wednesday. The stock has a 50 day moving average of $105.72 and a 200 day moving average of $98.27. The company has a market cap of $23.24 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 6.84 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $2.26 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s payout ratio is presently 56.76%.

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.