Advisors Asset Management Inc. Raises Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Advisors Asset Management Inc. lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,802 shares of the asset manager’s stock after purchasing an additional 3,164 shares during the quarter. Advisors Asset Management Inc.’s holdings in T. Rowe Price Group were worth $7,047,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC grew its stake in shares of T. Rowe Price Group by 3.2% in the first quarter. Freestone Capital Holdings LLC now owns 19,516 shares of the asset manager’s stock worth $2,379,000 after acquiring an additional 608 shares during the period. CreativeOne Wealth LLC grew its stake in shares of T. Rowe Price Group by 97.6% in the first quarter. CreativeOne Wealth LLC now owns 8,229 shares of the asset manager’s stock worth $1,003,000 after acquiring an additional 4,065 shares during the period. Mattern Capital Management LLC grew its stake in shares of T. Rowe Price Group by 5.1% in the first quarter. Mattern Capital Management LLC now owns 72,122 shares of the asset manager’s stock worth $8,793,000 after acquiring an additional 3,495 shares during the period. Leelyn Smith LLC bought a new stake in shares of T. Rowe Price Group in the first quarter worth approximately $2,411,000. Finally, Natixis bought a new stake in shares of T. Rowe Price Group in the first quarter worth approximately $952,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock traded down $3.41 during mid-day trading on Friday, hitting $112.08. The company had a trading volume of 1,972,332 shares, compared to its average volume of 1,297,146. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The stock’s 50 day moving average price is $116.57 and its 200-day moving average price is $114.00. The company has a market capitalization of $25.03 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.66 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.02 EPS. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Analyst Ratings Changes

TROW has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Evercore ISI cut their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 10th. Finally, Citigroup boosted their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.50.

Insider Buying and Selling at T. Rowe Price Group

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