T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Alps Advisors Inc.

Alps Advisors Inc. lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 22.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 308,837 shares of the asset manager's stock after buying an additional 57,503 shares during the quarter. Alps Advisors Inc. owned approximately 0.14% of T. Rowe Price Group worth $28,373,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TROW. Proficio Capital Partners LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $5,589,000. Raymond James Financial Inc. purchased a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $32,332,000. Callan Family Office LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $252,000. Daiwa Securities Group Inc. boosted its stake in shares of T. Rowe Price Group by 7.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 29,186 shares of the asset manager's stock worth $3,301,000 after buying an additional 2,064 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in shares of T. Rowe Price Group by 23.3% in the fourth quarter. Independent Advisor Alliance now owns 24,391 shares of the asset manager's stock worth $2,758,000 after buying an additional 4,603 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

TROW has been the subject of a number of analyst reports. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company upped their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday. Morgan Stanley increased their target price on T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of "Hold" and an average price target of $95.82.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction 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 completion of the sale, the insider directly owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% 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 Trading Down 1.3%

T. Rowe Price Group stock traded down $1.31 during mid-day trading on Friday, hitting $101.65. The company's stock had a trading volume of 931,422 shares, compared to its average volume of 1,541,929. The firm has a market capitalization of $22.40 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 3.25 and a beta of 1.49. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock's fifty day moving average is $95.24 and its two-hundred day moving average is $99.44.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.38 earnings per share. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.00%. T. Rowe Price Group's payout ratio is presently 57.60%.

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.