Elevated Capital Advisors LLC Buys 13,161 Shares of T. Rowe Price Group, Inc. $TROW

Elevated Capital Advisors LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 194.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,938 shares of the asset manager’s stock after acquiring an additional 13,161 shares during the period. Elevated Capital Advisors LLC’s holdings in T. Rowe Price Group were worth $1,797,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. TD Private Client Wealth LLC increased its holdings in T. Rowe Price Group by 91.8% during the 4th 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 during the period. 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 worth $29,000 after buying an additional 238 shares during the period. Canton Hathaway LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter worth $31,000. Sound Income Strategies LLC grew its position in shares of 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 in the last quarter. Finally, DV Equities LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. 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 report on Friday, May 1st. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Evercore upped their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Finally, Jefferies Financial Group dropped their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $100.54.

T. Rowe Price Group Stock Down 0.8%

NASDAQ TROW opened at $117.05 on Friday. The firm has a market cap of $25.08 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 5.99 and a beta of 1.47. The company has a 50 day moving average price of $107.24 and a 200 day moving average price of $100.76. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.23 earnings per share. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company 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.