American National Bank & Trust Invests $373,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

American National Bank & Trust purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,061 shares of the asset manager's stock, valued at approximately $373,000.

A number of other institutional investors have also recently bought and sold shares of the business. Czech National Bank grew its stake in T. Rowe Price Group by 6.2% in the 1st quarter. Czech National Bank now owns 51,135 shares of the asset manager's stock valued at $4,698,000 after purchasing an additional 2,966 shares during the period. Rhumbline Advisers grew its stake in T. Rowe Price Group by 3.8% in the 1st quarter. Rhumbline Advisers now owns 453,740 shares of the asset manager's stock valued at $41,685,000 after purchasing an additional 16,693 shares during the period. GAMMA Investing LLC grew its stake in T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after purchasing an additional 329,761 shares during the period. Exeter Financial LLC grew its stake in T. Rowe Price Group by 1.3% in the 1st quarter. Exeter Financial LLC now owns 26,132 shares of the asset manager's stock valued at $2,401,000 after purchasing an additional 325 shares during the period. Finally, Versant Capital Management Inc grew its stake in T. Rowe Price Group by 763.3% in the 1st quarter. Versant Capital Management Inc now owns 1,554 shares of the asset manager's stock valued at $143,000 after purchasing an additional 1,374 shares during the period. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Down 0.6%

TROW traded down $0.55 during trading on Thursday, reaching $93.24. 1,235,099 shares of the company were exchanged, compared to its average volume of 1,500,086. The company's 50-day moving average is $90.67 and its two-hundred day moving average is $103.65. The company has a market cap of $20.54 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. T. Rowe Price Group's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $2.38 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TROW. TD Cowen reduced their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Finally, Morgan Stanley increased their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $94.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

About T. Rowe Price Group

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.