2,755 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,755 shares of the asset manager’s stock, valued at approximately $336,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Creative Financial Designs Inc. ADV grew its position in T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares in the last quarter. First United Bank & Trust bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $31,000. Park Place Capital Corp boosted its stake in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $33,000. Finally, NBC Securities Inc. bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock traded down $0.77 during trading on Thursday, reaching $116.91. The company had a trading volume of 1,142,522 shares, compared to its average volume of 1,413,111. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The business has a 50 day moving average of $114.94 and a 200 day moving average of $109.26. The company has a market cap of $26.11 billion, a P/E ratio of 13.98, a PEG ratio of 2.02 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company earned $1.69 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts expect that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.24%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent research reports. Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Morgan Stanley increased their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price target for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Finally, Evercore ISI decreased their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.