Hennion & Walsh Asset Management Inc. Buys 2,679 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hennion & Walsh Asset Management Inc. grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 34.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,436 shares of the asset manager’s stock after acquiring an additional 2,679 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,272,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. MCF Advisors LLC increased its stake in T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after purchasing an additional 92 shares in the last quarter. Occidental Asset Management LLC grew its holdings in shares of T. Rowe Price Group by 16.1% during the first quarter. Occidental Asset Management LLC now owns 24,745 shares of the asset manager’s stock valued at $3,017,000 after buying an additional 3,438 shares during the last quarter. Touchstone Capital Inc. increased its position in shares of T. Rowe Price Group by 29.9% during the first quarter. Touchstone Capital Inc. now owns 64,396 shares of the asset manager’s stock valued at $7,851,000 after acquiring an additional 14,817 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in T. Rowe Price Group by 2.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 130,590 shares of the asset manager’s stock worth $15,921,000 after acquiring an additional 2,623 shares during the last quarter. Finally, Cardinal Capital Management lifted its position in T. Rowe Price Group by 11.6% in the 1st quarter. Cardinal Capital Management now owns 56,311 shares of the asset manager’s stock valued at $6,865,000 after acquiring an additional 5,852 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

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 completion of the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold 6,444 shares of company stock worth $740,408 in the last three months. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $115.31 on Monday. The business’s fifty day moving average is $114.98 and its 200 day moving average is $112.92. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The company has a market capitalization of $25.75 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.97 and a beta of 1.42.

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

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were paid a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.30%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup boosted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Evercore ISI lowered their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $112.10.

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.