T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Accel Wealth Management

Accel Wealth Management cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,162 shares of the asset manager’s stock after selling 659 shares during the period. Accel Wealth Management’s holdings in T. Rowe Price Group were worth $629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its holdings in T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after purchasing an additional 86 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in shares of T. Rowe Price Group by 0.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after acquiring an additional 88 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of T. Rowe Price Group by 1.6% in the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 92 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in shares of T. Rowe Price Group by 3.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after acquiring an additional 100 shares in the last quarter. Finally, Caprock Group LLC raised its position in shares of T. Rowe Price Group by 4.7% during the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after acquiring an additional 101 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded up $1.17 during trading on Thursday, hitting $115.77. 839,478 shares of the stock were exchanged, compared to its average volume of 929,531. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.96 and a beta of 1.42. The company’s fifty day simple moving average is $115.18 and its 200-day simple moving average is $113.04.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $1.69 EPS. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were given a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.28%. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders sold a total of 6,444 shares of company stock worth $740,408 over the last 90 days. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

TROW has been the topic of several research reports. Morgan Stanley upped their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Evercore ISI decreased their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, Citigroup increased their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $112.10.

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.