Cardinal Capital Management Acquires 3,357 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cardinal Capital Management boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 64,774 shares of the asset manager's stock after acquiring an additional 3,357 shares during the period. Cardinal Capital Management's holdings in T. Rowe Price Group were worth $5,951,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Glenview Trust co grew its holdings in T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock worth $488,000 after acquiring an additional 92 shares during the period. Addison Advisors LLC boosted its position in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Advantage Trust Co boosted its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of T. Rowe Price Group by 3.5% during the fourth 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 in the last quarter. Finally, Strategy Asset Managers LLC boosted its position in shares of T. Rowe Price Group by 5.0% during the fourth quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock worth $258,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the firm'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 transaction, the insider now directly owns 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade 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 can be accessed through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 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. Insiders have sold 6,923 shares of company stock worth $646,856 in the last ninety days. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TROW shares. Evercore ISI reduced their price target 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. Citigroup reduced their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, Bank of America cut their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $94.09.

T. Rowe Price Group Price Performance

NASDAQ:TROW traded up $0.56 on Wednesday, hitting $92.14. 1,044,939 shares of the company's stock were exchanged, compared to its average volume of 1,511,517. The firm has a 50-day moving average price of $91.94 and a 200-day moving average price of $102.00. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a market cap of $20.30 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 2.97 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.38 EPS. 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 will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.51%. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

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.