Mattern Capital Management LLC Purchases 6,197 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mattern Capital Management LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 80,409 shares of the asset manager's stock after purchasing an additional 6,197 shares during the quarter. Mattern Capital Management LLC's holdings in T. Rowe Price Group were worth $7,387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Glenview Trust co boosted its position in shares of T. Rowe Price Group by 2.2% during 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 shares of T. Rowe Price Group by 67.4% during 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. Strategy Asset Managers LLC boosted its position in shares of T. Rowe Price Group by 5.0% during 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. Wealthcare Capital Partners LLC boosted its position in shares of T. Rowe Price Group by 1.2% during the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock valued at $866,000 after buying an additional 115 shares during the last quarter. Finally, Cullen Investment Group LTD. boosted its position in shares of T. Rowe Price Group by 0.9% during the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after buying an additional 117 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

TROW has been the topic of several recent analyst reports. Barclays increased their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Bank of America dropped their price objective 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 price objective 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. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, TD Cowen lowered their target price on 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 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, T. Rowe Price Group currently has a consensus rating of "Hold" and an average target price of $94.09.

Insider Transactions at T. Rowe Price Group

In related news, 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 sale, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president now directly owns 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,923 shares of company stock valued at $646,856 over the last quarter. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

TROW stock opened at $95.10 on Wednesday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The business's 50-day moving average is $92.44 and its two-hundred day moving average is $100.94. The company has a market cap of $20.95 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 3.05 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $2.38 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

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.

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