Insight Advisors LLC PA Invests $1.47 Million in T. Rowe Price Group, Inc. $TROW

Insight Advisors LLC PA acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the first quarter, Holdings Channel reports. The firm acquired 16,352 shares of the asset manager’s stock, valued at approximately $1,474,000.

Other large investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its stake in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $31,000. Sound Income Strategies LLC grew its holdings in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares in the last quarter. Finally, DV Equities LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter worth approximately $32,000. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. TD Cowen decreased their price target on shares of T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a report on Monday. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. Finally, Evercore set a $121.00 target price on shares of T. Rowe Price Group in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus price target of $104.50.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $117.61 on Wednesday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $121.17. The firm’s 50 day simple moving average is $109.38 and its two-hundred day simple moving average is $101.50. The stock has a market capitalization of $25.20 billion, a P/E ratio of 12.61, a PEG ratio of 4.20 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 10.07 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 given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

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.