Exchange Traded Concepts LLC Purchases 212 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Exchange Traded Concepts LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.9% in the 1st quarter, Holdings Channel reports. The fund owned 971 shares of the asset manager’s stock after buying an additional 212 shares during the quarter. Exchange Traded Concepts LLC’s holdings in T. Rowe Price Group were worth $89,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in TROW. Principal Securities Inc. boosted its position in T. Rowe Price Group by 10.0% during the fourth quarter. Principal Securities Inc. now owns 1,905 shares of the asset manager’s stock worth $215,000 after purchasing an additional 173 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 125.4% during the 4th quarter. Venturi Wealth Management LLC now owns 719 shares of the asset manager’s stock valued at $81,000 after buying an additional 400 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in T. Rowe Price Group by 2.8% in the 4th quarter. Wealthspire Advisors LLC now owns 12,505 shares of the asset manager’s stock worth $1,414,000 after buying an additional 344 shares during the period. South Dakota Investment Council bought a new position in T. Rowe Price Group in the 4th quarter worth about $158,000. Finally, IFP Advisors Inc boosted its holdings in T. Rowe Price Group by 3.2% in the 4th quarter. IFP Advisors Inc now owns 3,792 shares of the asset manager’s stock valued at $429,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $95.10 on Wednesday. The stock’s 50-day moving average is $92.44 and its 200 day moving average is $100.94. The company has a market cap of $20.95 billion, a PE ratio of 10.78, a P/E/G ratio of 3.05 and a beta of 1.49. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.38 EPS. Analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.34%. T. Rowe Price Group’s payout ratio is currently 57.60%.

Analyst Ratings Changes

A number of brokerages have recently commented on TROW. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. TD Cowen decreased their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Finally, Evercore ISI decreased their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.09.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,923 shares of company stock worth $646,856 in the last 90 days. Insiders own 1.60% of the company’s stock.

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.