5,647 Shares in T. Rowe Price Group, Inc. $TROW Purchased by Sound Financial Strategies Group LLC

Sound Financial Strategies Group LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,647 shares of the asset manager’s stock, valued at approximately $578,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Woodline Partners LP increased its position in T. Rowe Price Group by 41.0% during 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 last quarter. Focus Partners Wealth increased its position in 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 worth $1,199,000 after purchasing an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in 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 purchasing an additional 478 shares during the last quarter. Jump Financial LLC acquired a new stake in T. Rowe Price Group during the second quarter worth about $931,000. Finally, Daiwa Securities Group Inc. increased its position in T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after purchasing an additional 1,703 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 1.7%

TROW stock opened at $105.33 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22. The company’s 50 day moving average is $93.48 and its two-hundred day moving average is $99.20. The stock has a market cap of $22.57 billion, a P/E ratio of 11.29, a PEG ratio of 4.53 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company earned $2.23 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.61 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TROW shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. The Goldman Sachs Group raised their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Zacks Research lowered shares of T. Rowe Price Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. BMO Capital Markets increased their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group lowered 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 research note on Wednesday, April 8th. Ten research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $99.54.

About T. Rowe Price Group

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.