T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,928 shares of the asset manager's stock after purchasing an additional 8,458 shares during the period. Banque Pictet & Cie SA's holdings in T. Rowe Price Group were worth $7,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of T. Rowe Price Group by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock worth $2,947,559,000 after buying an additional 135,203 shares in the last quarter. Fayez Sarofim & Co raised its holdings in shares of T. Rowe Price Group by 7.6% in the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after buying an additional 425,142 shares during the period. Geode Capital Management LLC grew its stake in T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after purchasing an additional 116,231 shares in the last quarter. Invesco Ltd. grew its stake in T. Rowe Price Group by 1.7% during the 4th quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock worth $271,169,000 after purchasing an additional 40,514 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of T. Rowe Price Group by 10.0% during the 4th quarter. Northern Trust Corp now owns 2,290,739 shares of the asset manager's stock worth $259,060,000 after acquiring an additional 208,304 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insiders Place Their Bets

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was 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 represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the insider 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 position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Price Performance

NASDAQ:TROW traded down $1.52 during trading hours on Friday, reaching $101.45. 852,672 shares of the company traded hands, compared to its average volume of 1,541,522. The firm's 50-day moving average is $95.24 and its 200-day moving average is $99.44. The stock has a market cap of $22.35 billion, a P/E ratio of 11.51, a P/E/G 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.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $2.38 EPS. T. Rowe Price Group's quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's payout ratio is currently 57.60%.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research analyst reports. TD Cowen decreased their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley upped their price objective on T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company upped their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday. Citigroup reduced their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $95.82.

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.