Brookstone Capital Management Purchases 7,026 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

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

A number of other large investors have also modified their holdings of TROW. Exchange Traded Concepts LLC increased its stake in T. Rowe Price Group by 27.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after buying an additional 212 shares during the period. Amundi increased its stake in shares of T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after acquiring an additional 397,278 shares during the period. Schroder Investment Management Group increased its stake in shares of T. Rowe Price Group by 49.4% during the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after acquiring an additional 73,307 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock valued at $40,436,000 after acquiring an additional 20,062 shares during the period. Finally, Mather Group LLC. increased its stake in shares of T. Rowe Price Group by 11.9% during the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after acquiring an additional 14,371 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Stock Up 0.8%

Shares of T. Rowe Price Group stock traded up $0.84 on Tuesday, hitting $99.74. 1,052,946 shares of the company traded hands, compared to its average volume of 1,536,215. The company has a 50-day moving average price of $94.69 and a 200 day moving average price of $99.51. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company has a market cap of $21.97 billion, a PE ratio of 11.31, a PEG ratio of 3.17 and a beta of 1.49.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. T. Rowe Price Group's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 earnings per share. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. 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. Bank of America dropped their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Evercore ISI dropped their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. Four research 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.com, the company presently has a consensus rating of "Hold" and an average price target of $94.91.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the firm's 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 sale, the insider owned 13,611 shares of the company's stock, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate 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.