Beacon Investment Advisors LLC Has $1.03 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Beacon Investment Advisors LLC lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,092 shares of the asset manager’s stock after buying an additional 163 shares during the quarter. Beacon Investment Advisors LLC’s holdings in T. Rowe Price Group were worth $1,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Wealth Management LLC raised its stake in T. Rowe Price Group by 130.0% in the 4th quarter. Heritage Wealth Management LLC now owns 230 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 130 shares during the period. Pacifica Partners Inc. boosted its stake in T. Rowe Price Group by 400.0% in the 1st quarter. Pacifica Partners Inc. now owns 250 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Carmel Capital Partners LLC bought a new stake in T. Rowe Price Group in the 1st quarter valued at $35,000. Crewe Advisors LLC boosted its stake in T. Rowe Price Group by 87.6% in the 4th quarter. Crewe Advisors LLC now owns 349 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 163 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $45,000. 75.85% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $0.67 on Friday, hitting $112.90. The stock had a trading volume of 702,184 shares, compared to its average volume of 1,507,695. The firm has a market capitalization of $25.32 billion, a P/E ratio of 16.83, a PEG ratio of 3.36 and a beta of 1.30. T. Rowe Price Group, Inc. has a twelve month low of $93.53 and a twelve month high of $134.64. The stock has a 50 day moving average of $114.13 and a 200 day moving average of $111.59.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 28th. The asset manager reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.29. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. T. Rowe Price Group had a return on equity of 18.30% and a net margin of 24.73%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.79 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post 7.18 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $4.88 annualized dividend and a yield of 4.32%. T. Rowe Price Group’s payout ratio is 72.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $111.82, for a total transaction of $1,338,373.58. Following the completion of the transaction, the vice president now owns 129,436 shares in the company, valued at approximately $14,473,533.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TROW. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, July 31st. UBS Group raised their price objective on T. Rowe Price Group from $83.00 to $90.00 and gave the stock a “sell” rating in a research note on Monday, July 31st. Citigroup increased their price objective on shares of T. Rowe Price Group from $98.00 to $100.00 and gave the stock a “sell” rating in a research note on Friday, July 14th. StockNews.com started coverage on shares of T. Rowe Price Group in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $117.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Monday, July 31st. Six investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $96.73.

T. Rowe Price Group Profile

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.