Commerzbank Aktiengesellschaft FI Buys 8,473 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Commerzbank Aktiengesellschaft FI boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 74.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,905 shares of the asset manager's stock after buying an additional 8,473 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in T. Rowe Price Group were worth $1,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Midwest Professional Planners LTD. lifted its stake in shares of T. Rowe Price Group by 1.8% during the first quarter. Midwest Professional Planners LTD. now owns 18,447 shares of the asset manager's stock valued at $1,695,000 after buying an additional 324 shares during the period. Larson Financial Group LLC increased its position in shares of T. Rowe Price Group by 65.2% in the first quarter. Larson Financial Group LLC now owns 717 shares of the asset manager's stock worth $66,000 after acquiring an additional 283 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in T. Rowe Price Group by 109.2% during the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock valued at $6,369,000 after purchasing an additional 36,190 shares in the last quarter. Poehling Capital Management INC. grew its holdings in T. Rowe Price Group by 4.9% during the 1st quarter. Poehling Capital Management INC. now owns 15,346 shares of the asset manager's stock valued at $1,410,000 after purchasing an additional 713 shares in the last quarter. Finally, United Community Bank increased its holdings in T. Rowe Price Group by 27.4% during the 1st quarter. United Community Bank now owns 18,118 shares of the asset manager's stock worth $1,665,000 after purchasing an additional 3,898 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the 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 sale, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction 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 completion of the sale, the insider owned 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Down 0.6%

T. Rowe Price Group stock traded down $0.64 on Friday, hitting $105.77. The company's stock had a trading volume of 4,819,403 shares, compared to its average volume of 1,577,692. The company has a fifty day moving average price of $96.37 and a 200-day moving average price of $98.97. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a market cap of $23.30 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 3.16 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results 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 business 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%. The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.38 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 4.80%. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

Wall Street Analyst Weigh In

TROW has been the topic of a number of research reports. 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 report on Friday, April 11th. The Goldman Sachs Group reduced their price objective 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. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Finally, Morgan Stanley raised their price target on T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $96.64.

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.