T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 75.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,949 shares of the asset manager's stock after acquiring an additional 3,427 shares during the quarter. Farther Finance Advisors LLC's holdings in T. Rowe Price Group were worth $733,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Glenview Trust co boosted its position in T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after buying an additional 92 shares during the last quarter. Addison Advisors LLC boosted its position in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after buying an additional 93 shares during the last quarter. Advantage Trust Co boosted its position in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after buying an additional 100 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in 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 buying an additional 102 shares during the last quarter. Finally, Strategy Asset Managers LLC boosted its position in 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 valued at $258,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In related news, 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 value of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,923 shares of company stock valued at $646,856 in the last three months. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Down 3.2%

Shares of TROW stock traded down $3.00 during trading hours on Friday, hitting $91.58. 1,195,694 shares of the company's stock were exchanged, compared to its average volume of 1,509,876. The firm has a market cap of $20.18 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.86 and a beta of 1.49. The firm has a 50 day moving average of $91.66 and a two-hundred day moving average of $102.44. 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 announced 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 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%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 EPS. On average, equities analysts forecast 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 firm also recently announced 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. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TROW. Bank of America dropped their target price on 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. Evercore ISI dropped their target price 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. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Citigroup dropped their target price 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. Finally, Morgan Stanley upped their price objective on 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. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $94.09.

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.