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Geneos Wealth Management Inc. Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Geneos Wealth Management Inc. boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 926.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,298 shares of the asset manager’s stock after purchasing an additional 25,540 shares during the quarter. Geneos Wealth Management Inc.’s holdings in T. Rowe Price Group were worth $4,278,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Covestor Ltd acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $27,000. Rise Advisors LLC raised its holdings in shares of T. Rowe Price Group by 645.8% during the first quarter. Rise Advisors LLC now owns 179 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 155 shares during the last quarter. Bivin & Associates Inc. acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $29,000. Independence Bank of Kentucky acquired a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of T. Rowe Price Group by 114.6% during the first quarter. Jones Financial Companies Lllp now owns 191 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 74.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TROW shares. TheStreet cut T. Rowe Price Group from a “b-” rating to a “c” rating in a report on Wednesday, July 13th. Morgan Stanley cut their price target on T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating for the company in a report on Friday, July 29th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, July 18th. UBS Group cut their price target on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating for the company in a report on Friday, July 29th. Finally, BMO Capital Markets cut their price target on T. Rowe Price Group from $135.00 to $115.00 in a report on Monday, August 1st. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $132.30.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the completion of the transaction, the vice president now directly owns 136,410 shares in the company, valued at $17,311,793.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Jessica M. Hiebler sold 959 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total transaction of $119,462.63. Following the completion of the transaction, the insider now directly owns 12,183 shares in the company, valued at $1,517,636.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $126.91, for a total value of $1,509,086.81. Following the transaction, the vice president now owns 136,410 shares of the company’s stock, valued at $17,311,793.10. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.4 %

TROW stock opened at $124.94 on Tuesday. The business has a fifty day moving average of $121.77 and a two-hundred day moving average of $128.22. The stock has a market cap of $28.20 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. T. Rowe Price Group, Inc. has a 52-week low of $104.72 and a 52-week high of $223.36.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last posted its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.85). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.68 billion. T. Rowe Price Group had a return on equity of 28.18% and a net margin of 33.26%. T. Rowe Price Group’s revenue was down 20.4% compared to the same quarter last year. During the same period last year, the business earned $3.31 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.24 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a dividend yield of 3.84%. T. Rowe Price Group’s dividend payout ratio is currently 46.33%.

About T. Rowe Price Group

(Get Rating)

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.

See Also

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