JLB & Associates Inc. Has $3.67 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

JLB & Associates Inc. lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 27.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,911 shares of the asset manager's stock after purchasing an additional 8,703 shares during the quarter. JLB & Associates Inc.'s holdings in T. Rowe Price Group were worth $3,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in T. Rowe Price Group in the fourth quarter worth about $117,704,000. Marshall Wace LLP acquired a new position in shares of T. Rowe Price Group in the 4th quarter worth $63,284,000. Fayez Sarofim & Co grew its holdings in shares of T. Rowe Price Group by 7.6% in the 4th 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 last quarter. Amundi increased its stake in shares of T. Rowe Price Group by 30.1% during the 4th 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of T. Rowe Price Group by 28.2% during the 4th 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 valued at $199,367,000 after purchasing an additional 387,604 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction 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 now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,923 shares of company stock worth $646,856. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TROW shares. Barclays boosted their target price on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. 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 target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Evercore ISI decreased their price target on shares of 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. Finally, JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $94.09.

T. Rowe Price Group Stock Up 0.6%

Shares of TROW stock traded up $0.56 during mid-day trading on Wednesday, reaching $92.14. The stock had a trading volume of 1,044,939 shares, compared to its average volume of 1,511,517. 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 $20.30 billion, a PE ratio of 10.45, a P/E/G ratio of 2.97 and a beta of 1.49. The firm's 50 day simple moving average is $91.94 and its 200 day simple moving average is $102.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the company posted $2.38 earnings per share. T. Rowe Price Group's revenue was up .8% on a year-over-year basis. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's 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.