7,601 Shares in T. Rowe Price Group, Inc. $TROW Purchased by Live Oak Private Wealth LLC

Live Oak Private Wealth LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,601 shares of the asset manager’s stock, valued at approximately $685,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Woodline Partners LP boosted its holdings in T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after purchasing an additional 5,467 shares during the period. Focus Partners Wealth raised its holdings in shares of T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after buying an additional 478 shares during the period. Jump Financial LLC acquired a new position in shares of T. Rowe Price Group during the second quarter worth approximately $931,000. Finally, Daiwa Securities Group Inc. grew its holdings in T. Rowe Price Group by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after buying an additional 1,703 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $105.20 on Thursday. The business has a 50 day moving average price of $103.45 and a two-hundred day moving average price of $99.88. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 5.45 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $2.23 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.58 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s payout ratio is presently 55.73%.

Analyst Upgrades and Downgrades

TROW has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Evercore boosted their price target on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Jefferies Financial Group lowered their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $100.08.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.