IFM Investors Pty Ltd Acquires 4,341 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

IFM Investors Pty Ltd grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,476 shares of the asset manager's stock after buying an additional 4,341 shares during the period. IFM Investors Pty Ltd's holdings in T. Rowe Price Group were worth $3,994,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $27,000. Ameriflex Group Inc. bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $42,000. Smallwood Wealth Investment Management LLC purchased a new stake in T. Rowe Price Group during the 1st quarter valued at about $39,000. Summit Securities Group LLC purchased a new stake in T. Rowe Price Group during the 4th quarter valued at about $57,000. Finally, Park Square Financial Group LLC purchased a new stake in T. Rowe Price Group during the 4th quarter valued at about $61,000. Institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on TROW. Evercore ISI cut their price objective on shares of 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. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. TD Cowen cut 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. Bank of America lowered their target price 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. Finally, Barclays upped their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $94.91.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider directly owned 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 legal filing with the SEC, which can be accessed through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. This represents a 4.27% 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 Performance

Shares of NASDAQ TROW traded up $1.51 during midday trading on Thursday, hitting $102.96. 1,763,794 shares of the company's stock traded hands, compared to its average volume of 1,540,515. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock has a market capitalization of $22.68 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. The firm has a fifty day moving average of $94.94 and a 200 day moving average of $99.53.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly 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. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm earned $2.38 EPS. The business's revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio is 57.60%.

T. Rowe Price Group Company 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.