Strategy Asset Managers LLC buys shares of 1,613 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Strategy Asset Managers LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 1,613 shares of the asset manager, valued at approximately $244,000.

A number of other hedge funds have also recently bought and sold shares of TROW. Covestor Ltd bought a new position in T. Rowe Price Group in the fourth quarter, valued at around $27,000. Amplius Wealth Advisors LLC purchased a new stake in T. Rowe Price Group in the fourth quarter worth approximately $29,000. Bivin & Associates Inc. purchased a new stake in T. Rowe Price Group in the fourth quarter worth approximately $29,000. Sandy Cove Advisors LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth approximately $32,000. Finally, Baystate Wealth Management LLC increased its position in T. Rowe Price Group by 686.4% in the fourth quarter. Baystate Wealth Management LLC now owns 173 shares of the asset manager worth $34,000 after buying 151 additional shares in the last quarter. 71.80% of the shares are currently held by institutional investors.

In other news, insider Jessica M. Hiebler sold 730 shares of T. Rowe Price Group in a trade on Monday, May 2. The stock was sold at an average price of $125.00, for a total value of $91,250.00. Following the transaction, the insider now directly owns 13,089 shares of the company, valued at approximately $1,636,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders of the company own 2.00% of the shares of the company.

A number of analysts have commented on the company. Citigroup reduced its price target on T. Rowe Price Group from $110.00 to $90.00 in a Friday, April 29 research report. Deutsche Bank Aktiengesellschaft lowered its price target on T. Rowe Price Group from $142.00 to $126.00 in a Thursday, May 19 research report. Morgan Stanley cut its price target on T. Rowe Price Group from $178.00 to $170.00 and set an “equal weight” rating for the company in a Monday, April 25 research report. StockNews.com launched coverage on T. Rowe Price Group in a research report on Thursday, March 31. They set a “holding” rating for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and set a target price of $156.00 on T. Rowe Price Group shares in a Monday, April 11 research report. Four equity research analysts gave the stock a sell rating, six gave the company a hold rating and one gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $162.00.

TROW opened at $111.33 on Thursday. The stock’s fifty-day moving average is $124.34 and its two-hundred-day moving average is $149.35. The company has a market capitalization of $25.30 billion, a P/E ratio of 9.01, a PEG ratio of 1.72 and a beta of 1.34. T. Rowe Price Group, Inc. has a 52-week low of $104.72 and a 52-week high of $224.55.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last released quarterly earnings data on Thursday, April 28. The asset manager reported EPS of $2.62 for the quarter, missing the consensus estimate of $2.76 ($0.14). The company posted revenue of $1.86 billion for the quarter, compared to $1.86 billion for analysts. T. Rowe Price Group achieved a return on equity of 33.38% and a net margin of 37.64%. The company’s revenue for the quarter increased by 2.0% compared to the same quarter last year. In the same quarter a year earlier, the company had earned earnings per share of $3.01. Equity analysts expect T. Rowe Price Group, Inc. to post EPS of 10.46 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 29. Shareholders of record on Wednesday, June 15 will receive a dividend of $1.20. The ex-date of this dividend is Tuesday, June 14. This represents a dividend of $4.80 on an annualized basis and a dividend yield of 4.31%. T. Rowe Price Group’s dividend payout ratio is currently 38.83%.

T. Rowe Price Group Company Profile (Get an assessment)

T. Rowe Price Group, Inc. is a publicly owned investment manager. The firm offers its services to individuals, institutional investors, pension plans, financial intermediaries and institutions. It initiates and manages equity and fixed income mutual funds. The company invests in public equity and fixed income markets around the world.

Further reading

Want to see what other hedge funds hold TROW? Visit HoldingsChannel.com for the latest 13F filings and insider trading for T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating).

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