Cornerstone Advisory LLC Buys 14,718 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cornerstone Advisory LLC lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,146 shares of the asset manager's stock after acquiring an additional 14,718 shares during the period. T. Rowe Price Group accounts for 1.0% of Cornerstone Advisory LLC's portfolio, making the stock its 24th largest position. Cornerstone Advisory LLC's holdings in T. Rowe Price Group were worth $9,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in TROW. Norges Bank acquired a new stake in T. Rowe Price Group during the fourth quarter worth about $117,704,000. Marshall Wace LLP acquired a new stake in T. Rowe Price Group during the fourth quarter worth about $63,284,000. Fayez Sarofim & Co grew its holdings in T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after acquiring an additional 425,142 shares during the period. Amundi boosted its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after purchasing an additional 387,604 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TROW shares. Evercore ISI lowered their price target on 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. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research report on Monday, April 14th. Citigroup lowered their price target on 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. Wells Fargo & Company lowered their price target on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, TD Cowen lowered their price target on 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. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $94.09.

Insider Activity

In other news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction dated 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 sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Down 2.1%

NASDAQ:TROW opened at $95.09 on Thursday. The firm has a market cap of $20.95 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The stock has a fifty day moving average price of $90.69 and a 200 day moving average price of $105.50. 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 quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. T. Rowe Price Group's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $2.38 EPS. 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 announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.34%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's payout ratio is currently 57.60%.

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.

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