Kingsview Wealth Management LLC Grows Stake in T. Rowe Price Group, Inc. $TROW

Kingsview Wealth Management LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 200.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,974 shares of the asset manager’s stock after acquiring an additional 6,651 shares during the quarter. Kingsview Wealth Management LLC’s holdings in T. Rowe Price Group were worth $1,021,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TROW. PFA Pension Forsikringsaktieselskab bought a new stake in T. Rowe Price Group during the 4th quarter valued at about $61,073,000. Caisse de depot et placement du Quebec increased its position in shares of T. Rowe Price Group by 81.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after acquiring an additional 584,949 shares in the last quarter. Anchyra Partners LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $48,012,000. Marshall Wace LLP purchased a new position in T. Rowe Price Group in the 3rd quarter worth approximately $34,034,000. Finally, Nordea Investment Management AB raised its holdings in T. Rowe Price Group by 1,307.4% in the 4th quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager’s stock worth $33,377,000 after acquiring an additional 301,934 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a report on Monday, April 27th. Argus raised T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. reduced their price objective on 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. Finally, The Goldman Sachs Group boosted their target price on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Stock Down 0.6%

Shares of NASDAQ:TROW opened at $103.92 on Tuesday. The stock has a market capitalization of $22.27 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 5.35 and a beta of 1.50. The firm’s 50 day moving average price is $97.69 and its 200-day moving average price is $99.22. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $2.23 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts expect that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business 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 yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

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.