L.K. Benson & Company P.C. Has $31.36 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

L.K. Benson & Company P.C. lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,267 shares of the asset manager’s stock after selling 9,574 shares during the quarter. T. Rowe Price Group accounts for about 15.7% of L.K. Benson & Company P.C.’s portfolio, making the stock its biggest position. L.K. Benson & Company P.C. owned about 0.14% of T. Rowe Price Group worth $31,356,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TROW. Envestnet Portfolio Solutions Inc. raised its holdings in T. Rowe Price Group by 0.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 162,809 shares of the asset manager’s stock worth $16,668,000 after buying an additional 1,490 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the period. RiverFront Investment Group LLC increased its position in shares of T. Rowe Price Group by 4.2% during the fourth quarter. RiverFront Investment Group LLC now owns 7,712 shares of the asset manager’s stock worth $790,000 after acquiring an additional 312 shares in the last quarter. North Dakota State Investment Board bought a new stake in shares of T. Rowe Price Group during the fourth quarter worth $768,000. Finally, Independent Solutions Wealth Management LLC raised its holdings in shares of T. Rowe Price Group by 6.9% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 2,162 shares of the asset manager’s stock worth $221,000 after acquiring an additional 140 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. BMO Capital Markets boosted their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Barclays upped their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Finally, Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $99.54.

T. Rowe Price Group Trading Up 0.4%

T. Rowe Price Group stock opened at $102.38 on Tuesday. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The company has a fifty day simple moving average of $94.76 and a 200 day simple moving average of $99.17. The company has a market cap of $21.94 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 4.46 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 EPS. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.61 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.1%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

About T. Rowe Price Group

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.