Poehling Capital Management INC. Increases Stock Position in T. Rowe Price Group, Inc. $TROW

Poehling Capital Management INC. raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 54.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 29,597 shares of the asset manager’s stock after purchasing an additional 10,385 shares during the period. Poehling Capital Management INC.’s holdings in T. Rowe Price Group were worth $2,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its position in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $31,000. Sound Income Strategies LLC grew its stake in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the last quarter. Finally, DV Equities LLC purchased a new position in T. Rowe Price Group during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Evercore increased their price objective on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. Jefferies Financial Group lowered their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. BMO Capital Markets lifted their target price 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. Finally, The Goldman Sachs Group upped their price target on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $100.38.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Up 3.7%

NASDAQ:TROW opened at $110.27 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22. The stock’s 50 day simple moving average is $103.94 and its 200-day simple moving average is $99.95. The firm has a market cap of $23.63 billion, a P/E ratio of 11.82, a PEG ratio of 5.47 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping 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 firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the company earned $2.23 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.58 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company 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 dividend of $1.30 per share. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

T. Rowe Price Group Company Profile

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.