L. Roy Papp & Associates LLP Sells 5,569 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

L. Roy Papp & Associates LLP trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 165,873 shares of the asset manager's stock after selling 5,569 shares during the quarter. T. Rowe Price Group accounts for 1.9% of L. Roy Papp & Associates LLP's portfolio, making the stock its 16th largest holding. L. Roy Papp & Associates LLP owned approximately 0.07% of T. Rowe Price Group worth $15,239,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after buying an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after acquiring an additional 346,369 shares during the period. 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 purchasing an additional 425,142 shares during the last quarter. Geode Capital Management LLC increased its position in shares of T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after purchasing an additional 116,231 shares in the last quarter. Finally, Provident Trust Co. lifted its holdings in T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after purchasing an additional 213,566 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ:TROW traded up $1.04 on Friday, hitting $94.28. 1,295,996 shares of the stock were exchanged, compared to its average volume of 1,499,272. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market capitalization of $20.77 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 2.86 and a beta of 1.49. The company's 50-day moving average price is $90.67 and its 200 day moving average price is $103.65.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. T. Rowe Price Group's revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.38 EPS. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.39%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the company'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 $1,319,994.78. This represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group 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 in the company, valued at $3,935,157.24. The trade was a 8.43% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on TROW. Wells Fargo & Company decreased their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Evercore ISI dropped their price target 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. Keefe, Bruyette & Woods restated a "market perform" rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. The Goldman Sachs Group cut 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, TD Cowen decreased 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 report on Wednesday, April 9th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.