Kestra Advisory Services LLC Raises Holdings in T. Rowe Price Group, Inc. $TROW

Kestra Advisory Services LLC increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 46,786 shares of the asset manager’s stock after purchasing an additional 4,448 shares during the quarter. Kestra Advisory Services LLC’s holdings in T. Rowe Price Group were worth $4,217,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp raised its position in shares of T. Rowe Price Group by 0.3% in the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock worth $1,449,680,000 after acquiring an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in T. Rowe Price Group by 332.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after purchasing an additional 143,109 shares in the last quarter. Invesco Ltd. boosted its position in T. Rowe Price Group by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after purchasing an additional 131,438 shares in the last quarter. Finally, Morgan Stanley grew its stake in T. Rowe Price Group by 16.0% in the fourth quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock valued at $352,528,000 after purchasing an additional 476,219 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $118.87 on Friday. The business’s 50-day simple moving average is $108.61 and its two-hundred day simple moving average is $101.21. The company has a market cap of $25.47 billion, a PE ratio of 12.74, a PEG ratio of 4.27 and a beta of 1.47. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the business posted $2.23 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts predict that T. Rowe Price Group, Inc. will post 10.07 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

T. Rowe Price Group News Summary

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: T. Rowe Price was added to multiple Zacks #1 (Strong Buy) lists on July 16, including momentum, value, and income screens, which can support bullish sentiment around the stock. Article Title
• Positive Sentiment: The company introduced an actively managed spot multi-token crypto ETF, signaling product innovation and a possible new growth avenue for assets and fee revenue. Article Title
• Positive Sentiment: Additional Zacks coverage also labeled TROW a strong buy for value and income investors, reinforcing the view that the shares may be attractively priced relative to fundamentals. Article Title
• Neutral Sentiment: Analysts and commentary continue to debate valuation after the AdvanCell deal, suggesting investors are still assessing whether the stock is fully valued at current levels. Article Title
• Negative Sentiment: Barclays reiterated a sell rating on T. Rowe Price, and recent commentary highlighted Q2 net outflows, which remain a concern for long-term asset growth and fee pressure. Article Title

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The shares were 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 directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TROW. Jefferies Financial Group reduced their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. TD Cowen lifted their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. The Goldman Sachs Group boosted their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Evercore set a $121.00 target price on shares of T. Rowe Price Group in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods raised their target price on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, July 10th. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $103.42.

T. Rowe Price Group Company 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.