Basepoint Wealth LLC Boosts Stock Holdings in T. Rowe Price Group, Inc. $TROW

Basepoint Wealth LLC lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5,476.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,576 shares of the asset manager’s stock after acquiring an additional 5,476 shares during the quarter. Basepoint Wealth LLC’s holdings in T. Rowe Price Group were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in TROW. Dimensional Fund Advisors LP raised its position in shares of T. Rowe Price Group by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,124,696 shares of the asset manager’s stock worth $191,512,000 after acquiring an additional 37,642 shares during the period. Parallel Advisors LLC grew its position in shares of T. Rowe Price Group by 63.2% during the 1st quarter. Parallel Advisors LLC now owns 8,415 shares of the asset manager’s stock valued at $759,000 after acquiring an additional 3,260 shares during the period. KBC Group NV increased its stake in shares of T. Rowe Price Group by 18.3% in the 1st quarter. KBC Group NV now owns 50,640 shares of the asset manager’s stock valued at $4,565,000 after purchasing an additional 7,848 shares in the last quarter. SEB Asset Management AB purchased a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $4,730,000. Finally, Valley Wealth Managers Inc. increased its stake in shares of T. Rowe Price Group by 2.9% in the 1st quarter. Valley Wealth Managers Inc. now owns 45,416 shares of the asset manager’s stock valued at $4,094,000 after purchasing an additional 1,282 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

TROW opened at $117.35 on Monday. The company has a market cap of $25.14 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 4.23 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $121.17. The company has a 50-day moving average price of $108.85 and a 200 day moving average price of $101.30.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) 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 company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm posted $2.23 EPS. T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.07 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Evercore set a $121.00 price objective on T. Rowe Price Group in a research report on Friday, July 10th. TD Cowen upped their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday, July 10th. Finally, BMO Capital Markets lifted their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $103.42.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred 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 directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

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.