First Allied Advisory Services Inc. Boosts Holdings in T. Rowe Price Group Inc (TROW)

First Allied Advisory Services Inc. boosted its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 17.9% in the first quarter, HoldingsChannel reports. The firm owned 6,868 shares of the asset manager’s stock after buying an additional 1,042 shares during the quarter. First Allied Advisory Services Inc.’s holdings in T. Rowe Price Group were worth $697,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Reilly Financial Advisors LLC increased its holdings in shares of T. Rowe Price Group by 66.3% during the fourth quarter. Reilly Financial Advisors LLC now owns 296 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Ruggie Capital Group bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of T. Rowe Price Group during the first quarter valued at $29,000. Financial Gravity Companies Inc. bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at $30,000. Finally, Pearl River Capital LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at $31,000. Institutional investors and hedge funds own 71.32% of the company’s stock.

Several equities analysts have recently weighed in on the company. BidaskClub downgraded T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Jefferies Financial Group raised their price target on T. Rowe Price Group from $103.00 to $119.00 and gave the company a “buy” rating in a report on Monday, April 1st. Bank of America restated a “buy” rating and set a $107.00 price target (up from $102.00) on shares of T. Rowe Price Group in a report on Friday, March 8th. Citigroup raised their price target on T. Rowe Price Group from $91.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, February 27th. Finally, Credit Suisse Group raised their price target on T. Rowe Price Group from $107.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $106.75.

T. Rowe Price Group stock opened at $104.38 on Monday. T. Rowe Price Group Inc has a one year low of $84.59 and a one year high of $127.43. The firm has a market cap of $24.68 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, April 24th. The asset manager reported $1.87 EPS for the quarter, beating the consensus estimate of $1.61 by $0.26. T. Rowe Price Group had a return on equity of 28.93% and a net margin of 35.05%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm posted $1.74 earnings per share. T. Rowe Price Group’s revenue was down 2.1% compared to the same quarter last year. As a group, research analysts predict that T. Rowe Price Group Inc will post 7.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.04 annualized dividend and a dividend yield of 2.91%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 42.52%.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 2,617 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $100.73, for a total value of $263,610.41. Following the transaction, the vice president now directly owns 448,651 shares of the company’s stock, valued at $45,192,615.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D. Alderson sold 104,465 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $96.94, for a total value of $10,126,837.10. Following the completion of the transaction, the vice president now directly owns 401,164 shares in the company, valued at $38,888,838.16. The disclosure for this sale can be found here. Insiders have sold 172,200 shares of company stock worth $17,416,177 over the last ninety days. 3.10% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY WARNING: “First Allied Advisory Services Inc. Boosts Holdings in T. Rowe Price Group Inc (TROW)” was posted by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this report on another publication, it was stolen and republished in violation of United States & international copyright and trademark laws. The correct version of this report can be viewed at https://www.baseballdailydigest.com/news/2019/05/20/first-allied-advisory-services-inc-boosts-holdings-in-t-rowe-price-group-inc-trow.html.

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.

Read More: Market Capitalization and Individual Investors

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc (NASDAQ:TROW).

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

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.