Park Square Financial Group LLC Makes New $61,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Park Square Financial Group LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 542 shares of the asset manager’s stock, valued at approximately $61,000.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of T. Rowe Price Group by 13.6% during the 3rd quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock valued at $89,635,000 after acquiring an additional 98,448 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of T. Rowe Price Group by 487.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,198 shares of the asset manager’s stock valued at $135,000 after buying an additional 994 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $250,000. Blue Trust Inc. raised its holdings in shares of T. Rowe Price Group by 31.4% during the 4th quarter. Blue Trust Inc. now owns 3,437 shares of the asset manager’s stock valued at $374,000 after buying an additional 822 shares in the last quarter. Finally, Nilsine Partners LLC raised its holdings in shares of T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after buying an additional 2,370 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $94.00 on Thursday. The firm has a market cap of $20.71 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The business’s 50 day moving average price is $90.74 and its 200-day moving average price is $104.70.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $2.38 EPS. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.40%. T. Rowe Price Group’s dividend payout ratio is currently 57.60%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group 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 directly owns 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group 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 sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays raised their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a report on Monday, May 5th. Bank of America decreased their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wall Street Zen cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Evercore ISI decreased their price target on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $94.09.

About T. Rowe Price Group

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.