Kingsview Wealth Management LLC Purchases 6,651 Shares of T. Rowe Price Group, Inc. $TROW

Kingsview Wealth Management LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 200.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,974 shares of the asset manager’s stock after buying an additional 6,651 shares during the period. Kingsview Wealth Management LLC’s holdings in T. Rowe Price Group were worth $1,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TROW. TD Private Client Wealth LLC boosted its stake 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 worth $26,000 after acquiring an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after buying an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new stake in T. Rowe Price Group during the 4th quarter valued at approximately $31,000. Sound Income Strategies LLC raised its position in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 189 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of T. Rowe Price Group by 92.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after buying an additional 185 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the 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 sale, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TROW shares. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. BMO Capital Markets increased their price objective on shares of 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. Keefe, Bruyette & Woods raised 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 report on Friday, May 1st. Finally, TD Cowen lifted their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Eleven equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus target price of $99.54.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $103.92 on Tuesday. The firm has a market capitalization of $22.27 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 5.35 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The company’s 50-day moving average is $97.69 and its 200 day moving average is $99.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the business earned $2.23 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is 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.