T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,775 shares of the asset manager’s stock after purchasing an additional 11,027 shares during the period. Congress Wealth Management LLC DE’s holdings in T. Rowe Price Group were worth $10,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV increased its position in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares during the period. First United Bank & Trust purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth approximately $31,000. Park Place Capital Corp raised its stake in shares of T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $33,000. Finally, CVA Family Office LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TROW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Morgan Stanley lifted their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. 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. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Finally, Citigroup increased their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Down 1.3 %

Shares of TROW stock opened at $113.85 on Tuesday. The stock has a market cap of $25.42 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.97 and a beta of 1.42. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The business has a fifty day simple moving average of $114.98 and a 200-day simple moving average of $112.92.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.69 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 earnings per share 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. Shareholders 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 annualized dividend and a yield of 4.36%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, 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 transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares in the company, valued at $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 over the last quarter. 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.