Accel Wealth Management Has $629,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Accel Wealth Management cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,162 shares of the asset manager’s stock after selling 659 shares during the period. Accel Wealth Management’s holdings in T. Rowe Price Group were worth $629,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its stake in shares of T. Rowe Price Group by 7.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after buying an additional 86 shares during the period. ST Germain D J Co. Inc. grew its stake in shares of T. Rowe Price Group by 0.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after buying an additional 88 shares during the period. MCF Advisors LLC boosted its stake in T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after purchasing an additional 92 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in T. Rowe Price Group by 3.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after purchasing an additional 100 shares during the last quarter. Finally, Caprock Group LLC lifted its position in shares of T. Rowe Price Group by 4.7% during the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after buying an additional 101 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

TROW stock traded up $1.17 during midday trading on Thursday, reaching $115.77. 839,478 shares of the company’s stock traded hands, compared to its average volume of 929,531. The company has a 50-day moving average price of $115.18 and a two-hundred day moving average price of $113.04. The firm has a market capitalization of $25.85 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.96 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.69 EPS. As a group, analysts predict that T. Rowe Price Group, Inc. will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a dividend of $1.24 per share. The ex-dividend date was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.28%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Citigroup lifted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. UBS Group lifted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, Evercore ISI lowered their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $112.10.

Insider Activity

In related news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders sold 6,444 shares of company stock worth $740,408 in the last three months. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company 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.