T. Rowe Price Group Inc (TROW) Position Boosted by Acima Private Wealth LLC

Acima Private Wealth LLC increased its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 2,647.1% in the first quarter, HoldingsChannel.com reports. The firm owned 467 shares of the asset manager’s stock after acquiring an additional 450 shares during the period. Acima Private Wealth LLC’s holdings in T. Rowe Price Group were worth $47,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TROW. Reilly Financial Advisors LLC lifted its position in T. Rowe Price Group by 66.3% in the 4th quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock worth $27,000 after buying an additional 118 shares in the last quarter. Ruggie Capital Group purchased a new stake in T. Rowe Price Group in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA purchased a new stake in T. Rowe Price Group in the 1st quarter worth approximately $29,000. Financial Gravity Companies Inc. purchased a new stake in T. Rowe Price Group in the 4th quarter worth approximately $30,000. Finally, Pearl River Capital LLC purchased a new stake in T. Rowe Price Group in the 4th quarter worth approximately $31,000. 72.66% of the stock is owned by hedge funds and other institutional investors.

TROW has been the subject of a number of research analyst reports. Bank of America reiterated a “buy” rating and issued a $107.00 target price (up previously from $102.00) on shares of T. Rowe Price Group in a research report on Friday, March 8th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research report on Wednesday, April 3rd. Jefferies Financial Group increased their target price on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Gabelli reiterated a “buy” rating on shares of T. Rowe Price Group in a research report on Thursday, April 25th. Finally, Deutsche Bank increased their target price on shares of T. Rowe Price Group from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $106.75.

T. Rowe Price Group stock opened at $103.20 on Wednesday. The firm has a market cap of $24.32 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.06. T. Rowe Price Group Inc has a 1-year low of $84.59 and a 1-year high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, April 24th. The asset manager reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.26. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. T. Rowe Price Group’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS. On average, sell-side analysts forecast that T. Rowe Price Group Inc will post 7.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.95%. T. Rowe Price Group’s dividend payout ratio is currently 42.52%.

In other news, VP Christopher D. Alderson sold 104,465 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $96.94, for a total transaction of $10,126,837.10. Following the transaction, the vice president now owns 401,164 shares in the company, valued at approximately $38,888,838.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott B. David sold 45,118 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $107.88, for a total transaction of $4,867,329.84. Following the transaction, the vice president now owns 48,454 shares in the company, valued at approximately $5,227,217.52. The disclosure for this sale can be found here. Insiders have sold a total of 182,200 shares of company stock worth $18,387,677 in the last 90 days. 3.10% of the stock is owned by insiders.

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T. Rowe Price Group Company 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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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