7,511 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,511 shares of the asset manager's stock, valued at approximately $849,000.

A number of other hedge funds have also recently bought and sold shares of TROW. Siemens Fonds Invest GmbH boosted its holdings in shares of T. Rowe Price Group by 1,019.1% in the 4th quarter. Siemens Fonds Invest GmbH now owns 51,378 shares of the asset manager's stock valued at $5,810,000 after buying an additional 46,787 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in T. Rowe Price Group during the fourth quarter worth $552,000. Silvercrest Asset Management Group LLC lifted its stake in T. Rowe Price Group by 3,824.8% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 76,456 shares of the asset manager's stock valued at $8,646,000 after acquiring an additional 74,508 shares during the last quarter. Royal Bank of Canada grew its position in shares of T. Rowe Price Group by 5.6% in the 4th quarter. Royal Bank of Canada now owns 634,511 shares of the asset manager's stock valued at $71,756,000 after acquiring an additional 33,453 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in shares of T. Rowe Price Group by 2.9% during the 4th quarter. Rafferty Asset Management LLC now owns 79,938 shares of the asset manager's stock worth $9,040,000 after purchasing an additional 2,276 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TROW. Evercore ISI cut their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Barclays raised their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Citigroup decreased their target price on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $94.09.

T. Rowe Price Group Price Performance

TROW stock opened at $97.96 on Tuesday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a market capitalization of $21.58 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 2.86 and a beta of 1.50. The business's fifty day moving average price is $90.55 and its two-hundred day moving average price is $105.63.

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

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.19%. T. Rowe Price Group's payout ratio is presently 57.60%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares of the company's stock, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.