Columbia Asset Management Buys 5,275 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Columbia Asset Management boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 57.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,484 shares of the asset manager's stock after purchasing an additional 5,275 shares during the quarter. Columbia Asset Management's holdings in T. Rowe Price Group were worth $1,331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glenview Trust co boosted its holdings in shares of 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 buying an additional 92 shares during the period. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares during the period. Advantage Trust Co boosted its holdings in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after acquiring an additional 100 shares during the period. Valeo Financial Advisors LLC grew its position in shares of T. Rowe Price Group by 3.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,996 shares of the asset manager's stock valued at $339,000 after purchasing an additional 102 shares during the last quarter. Finally, Strategy Asset Managers LLC increased its stake in shares of T. Rowe Price Group by 5.0% in 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 during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $93,876.64. Following 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 position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Down 0.6%

Shares of NASDAQ TROW traded down $0.55 during trading on Thursday, reaching $93.24. The company had a trading volume of 1,235,099 shares, compared to its average volume of 1,500,083. The stock has a market cap of $20.54 billion, a P/E ratio of 10.18, a PEG ratio of 2.86 and a beta of 1.49. The company's fifty day moving average price is $90.64 and its 200-day moving average price is $103.83. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate 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 return on equity of 20.83% and a net margin of 29.61%. The firm's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $2.38 earnings per share. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

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 $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on 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. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Bank of America decreased their price target on shares of 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. TD Cowen dropped their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Morgan Stanley upped their price objective 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. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of "Hold" and a consensus price target of $94.09.

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.