Brookstone Capital Management Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brookstone Capital Management grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,202 shares of the asset manager's stock after buying an additional 7,026 shares during the quarter. Brookstone Capital Management's holdings in T. Rowe Price Group were worth $9,849,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC lifted its holdings in shares of T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after buying an additional 212 shares during the period. Amundi lifted its holdings in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after buying an additional 397,278 shares during the period. Schroder Investment Management Group lifted its holdings in shares of T. Rowe Price Group by 49.4% in the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock worth $25,229,000 after buying an additional 73,307 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of T. Rowe Price Group by 5.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock worth $40,436,000 after buying an additional 20,062 shares during the period. Finally, Mather Group LLC. lifted its holdings in shares of T. Rowe Price Group by 11.9% in the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock worth $12,455,000 after buying an additional 14,371 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction dated 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 directly owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated 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 directly owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

NASDAQ:TROW traded up $0.45 during mid-day trading on Friday, hitting $100.41. 924,241 shares of the company's stock traded hands, compared to its average volume of 1,535,667. The company has a fifty day moving average of $94.26 and a 200 day moving average of $99.72. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market capitalization of $22.12 billion, a P/E ratio of 11.38, a P/E/G ratio of 3.21 and a beta of 1.49.

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 business had revenue of $1.76 billion for 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 company's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $2.38 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share 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 issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

Analyst Ratings Changes

Several research firms have recently commented on TROW. Morgan Stanley boosted their price target on T. Rowe Price Group from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Evercore ISI reduced their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. TD Cowen reduced their price target 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. Barclays boosted their price target on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company reduced their price target on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. 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, the company has a consensus rating of "Hold" and an average price target of $94.91.

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.