Brookstone Capital Management Increases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brookstone Capital Management lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 107,202 shares of the asset manager's stock after acquiring 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 quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFM Investors Pty Ltd increased its stake in T. Rowe Price Group by 11.1% in the 1st quarter. IFM Investors Pty Ltd now owns 43,476 shares of the asset manager's stock worth $3,994,000 after buying an additional 4,341 shares during the period. Goelzer Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 2.7% in the first quarter. Goelzer Investment Management Inc. now owns 66,276 shares of the asset manager's stock valued at $6,089,000 after acquiring an additional 1,773 shares in the last quarter. D.A. Davidson & CO. lifted its stake in T. Rowe Price Group by 36.9% in the 1st quarter. D.A. Davidson & CO. now owns 110,434 shares of the asset manager's stock worth $10,146,000 after purchasing an additional 29,774 shares in the last quarter. Mutual Advisors LLC raised its position in shares of T. Rowe Price Group by 29.9% during the 1st quarter. Mutual Advisors LLC now owns 53,950 shares of the asset manager's stock valued at $4,771,000 after buying an additional 12,405 shares during the period. Finally, Capital Investment Counsel Inc raised its position in T. Rowe Price Group by 11.2% in the first quarter. Capital Investment Counsel Inc now owns 53,648 shares of the asset manager's stock valued at $4,929,000 after purchasing an additional 5,397 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Down 1.4%

NASDAQ TROW traded down $1.36 on Monday, hitting $98.79. The company's stock had a trading volume of 820,202 shares, compared to its average volume of 1,532,966. The firm has a market cap of $21.76 billion, a PE ratio of 11.20, a PEG ratio of 3.21 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 company's 50-day moving average is $94.26 and its 200 day moving average is $99.63.

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, topping analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion for 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%. The business's revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.38 earnings per share. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given 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 yield of 5.14%. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Wells Fargo & Company decreased their price objective 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. Bank of America dropped their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. 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 research report on Wednesday, April 16th. Finally, Citigroup lowered their target price on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" 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 assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $94.91.

Insider Buying and Selling

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the 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 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 disclosure for this sale can be found here. 1.60% of the stock is currently 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.