CreativeOne Wealth LLC Has $1 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

CreativeOne Wealth LLC boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 97.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,229 shares of the asset manager’s stock after acquiring an additional 4,065 shares during the period. CreativeOne Wealth LLC’s holdings in T. Rowe Price Group were worth $1,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. First United Bank & Trust bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $31,000. Park Place Capital Corp raised its stake in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. CVA Family Office LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $39,000. Signature Resources Capital Management LLC acquired a new stake in T. Rowe Price Group in the 4th quarter worth $39,000. Finally, Scarborough Advisors LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TROW. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 10th. UBS Group lifted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Evercore ISI cut their target price 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. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $120.00 to $121.00 and gave the company a “market perform” rating in a report on Friday, July 12th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $113.50.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded down $3.41 on Friday, hitting $112.08. The stock had a trading volume of 1,972,652 shares, compared to its average volume of 900,273. The firm’s 50 day moving average price is $116.47 and its 200-day moving average price is $114.04. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The company has a market capitalization of $25.03 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.68 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.01. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.02 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.43%. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the 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 transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. Insiders have sold a total of 6,444 shares of company stock valued at $740,408 in the last 90 days. 2.00% of the stock is currently owned by insiders.

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.