Alpine Bank Wealth Management Invests $133,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Alpine Bank Wealth Management bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, Holdings Channel.com reports. The firm bought 1,450 shares of the asset manager’s stock, valued at approximately $133,000.

A number of other large investors have also recently made changes to their positions in TROW. Addison Advisors LLC increased its position in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $27,000. Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $42,000. Summit Securities Group LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $57,000. Finally, CX Institutional purchased a new stake in T. Rowe Price Group in the 1st quarter valued at $57,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 0.2%

Shares of NASDAQ:TROW opened at $94.95 on Thursday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a 50-day moving average price of $92.63 and a 200 day moving average price of $100.90. The company has a market cap of $20.92 billion, a P/E ratio of 10.77, a PEG ratio of 3.09 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business posted $2.38 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 57.60%.

Analysts Set New Price Targets

TROW has been the topic of several research reports. Bank of America lowered their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley raised their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company decreased their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Finally, TD Cowen dropped their target price on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.09.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now owns 13,611 shares of the company’s stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,923 shares of company stock worth $646,856. Corporate insiders own 2.00% of the company’s stock.

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.