Live Oak Private Wealth LLC Makes New Investment in T. Rowe Price Group, Inc. $TROW

Live Oak Private Wealth LLC acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the first quarter, Holdings Channel.com reports. The fund acquired 7,601 shares of the asset manager’s stock, valued at approximately $685,000.

Several other hedge funds also recently bought and sold shares of the company. Davis Investment Partners LLC increased its holdings in T. Rowe Price Group by 5.4% in the first quarter. Davis Investment Partners LLC now owns 5,743 shares of the asset manager’s stock worth $518,000 after buying an additional 292 shares during the last quarter. RFG Advisory LLC raised its holdings in T. Rowe Price Group by 8.8% in the 1st quarter. RFG Advisory LLC now owns 2,358 shares of the asset manager’s stock worth $213,000 after acquiring an additional 191 shares during the period. OP Asset Management Ltd bought a new position in shares of T. Rowe Price Group in the first quarter worth about $2,066,000. Banque Cantonale Vaudoise acquired a new position in shares of T. Rowe Price Group during the first quarter worth approximately $203,000. Finally, Thoma Capital Management LLC raised its stake in T. Rowe Price Group by 19.0% during the 1st quarter. Thoma Capital Management LLC now owns 10,650 shares of the asset manager’s stock valued at $960,000 after purchasing an additional 1,699 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $105.20 on Thursday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $118.22. The business has a 50 day simple moving average of $103.45 and a 200 day simple moving average of $99.88. The stock has a market cap of $22.54 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 5.45 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business 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. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.58 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $1.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TROW. The Goldman Sachs Group raised their price objective on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Jefferies Financial Group reduced their target price on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. Keefe, Bruyette & Woods upped their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. BMO Capital Markets increased their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Finally, Barclays raised their target price on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a research note on Friday, May 1st. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $100.08.

T. Rowe Price Group 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.