Beacon Financial Advisory LLC Takes Position in T. Rowe Price Group, Inc. $TROW

Beacon Financial Advisory LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,505 shares of the asset manager’s stock, valued at approximately $871,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Goldman Sachs Group Inc. boosted its stake in shares of T. Rowe Price Group by 332.0% in 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 during the period. First Trust Advisors LP boosted its stake in shares of T. Rowe Price Group by 126.5% in the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after purchasing an additional 1,832,231 shares during the period. Norges Bank purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $128,283,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $61,073,000. Finally, Caisse de depot et placement du Quebec boosted its stake in shares of T. Rowe Price Group by 81.0% in 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 purchasing an additional 584,949 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 0.3%

Shares of T. Rowe Price Group stock opened at $108.94 on Wednesday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $118.22. The company has a 50 day moving average of $101.56 and a 200 day moving average of $99.72. The company has a market capitalization of $23.34 billion, a P/E ratio of 11.68, a P/E/G ratio of 5.56 and a beta of 1.50.

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, 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 during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts anticipate 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 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 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm’s 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 sale, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TROW. Jefferies Financial Group lowered their price objective 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. Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Evercore lifted their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a research note on Monday, June 8th. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Finally, Barclays lifted their price target on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research note 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. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target 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.