5,871 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by Davis Investment Partners LLC

Davis Investment Partners LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,871 shares of the asset manager's stock, valued at approximately $524,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Apollon Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 27.7% during the fourth quarter. Apollon Wealth Management LLC now owns 7,797 shares of the asset manager's stock valued at $882,000 after acquiring an additional 1,693 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of T. Rowe Price Group by 12.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,730 shares of the asset manager's stock valued at $535,000 after acquiring an additional 518 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of T. Rowe Price Group by 23.8% during the fourth quarter. Summit Trail Advisors LLC now owns 4,969 shares of the asset manager's stock valued at $562,000 after acquiring an additional 956 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at $32,000. Finally, Sovran Advisors LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at $428,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TROW shares. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Citigroup dropped their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Evercore ISI dropped their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a 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 for the company in a report on Monday, April 14th. Finally, Bank of America lowered their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $94.09.

T. Rowe Price Group Trading Down 0.5%

Shares of TROW stock traded down $0.52 on Thursday, hitting $94.58. 1,248,524 shares of the stock were exchanged, compared to its average volume of 1,506,430. The firm has a market capitalization of $20.84 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The business has a 50-day moving average of $91.17 and a 200 day moving average of $103.01. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same period last year, the firm posted $2.38 earnings per share. The business's revenue was up .8% on a year-over-year basis. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS 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. Investors of record on Friday, June 13th will be given 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 yield of 5.37%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the company'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 value of $93,876.64. Following the transaction, the insider now directly owns 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. Insiders have sold 6,923 shares of company stock valued at $646,856 in the last ninety days. 2.00% of the stock is owned by company insiders.

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.