Brown Miller Wealth Management LLC Makes New $289,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brown Miller Wealth Management LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 3,141 shares of the asset manager's stock, valued at approximately $289,000.

A number of other hedge funds have also recently modified their holdings of the stock. Asset Management One Co. Ltd. boosted its stake in T. Rowe Price Group by 1.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 88,053 shares of the asset manager's stock worth $10,185,000 after purchasing an additional 871 shares during the period. Valeo Financial Advisors LLC boosted its stake in T. Rowe Price Group by 3.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 2,996 shares of the asset manager's stock worth $339,000 after purchasing an additional 102 shares during the period. Congress Asset Management Co. boosted its stake in T. Rowe Price Group by 0.7% during the 4th quarter. Congress Asset Management Co. now owns 139,319 shares of the asset manager's stock worth $15,756,000 after purchasing an additional 1,013 shares during the period. Principal Securities Inc. boosted its stake in T. Rowe Price Group by 10.0% during the 4th quarter. Principal Securities Inc. now owns 1,905 shares of the asset manager's stock worth $215,000 after purchasing an additional 173 shares during the period. Finally, Allworth Financial LP boosted its stake in T. Rowe Price Group by 14.2% during the 4th quarter. Allworth Financial LP now owns 7,414 shares of the asset manager's stock worth $842,000 after purchasing an additional 922 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred 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 sale, the vice president now directly owns 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider now owns 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. Insiders sold a total of 6,923 shares of company stock worth $646,856 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TROW has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group reduced their target price on shares of 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. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays raised their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $94.09.

T. Rowe Price Group Stock Up 0.6%

Shares of NASDAQ TROW traded up $0.56 during midday trading on Wednesday, hitting $92.14. The company had a trading volume of 1,044,939 shares, compared to its average volume of 1,511,517. The firm has a market capitalization of $20.30 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 2.97 and a beta of 1.49. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The business has a 50-day simple moving average of $91.94 and a two-hundred day simple moving average of $102.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 earnings per share. On average, equities analysts forecast 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 will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.51%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

T. Rowe Price Group Company 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.