87,875 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 87,875 shares of the asset manager's stock, valued at approximately $8,073,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Norges Bank acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth $117,704,000. Marshall Wace LLP purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $63,284,000. Fayez Sarofim & Co increased its stake in T. Rowe Price Group by 7.6% during the fourth 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 raised its holdings in shares of T. Rowe Price Group by 30.1% in 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 period. 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% in 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 worth $199,367,000 after purchasing an additional 387,604 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TROW. Bank of America dropped their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. TD Cowen cut 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 reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Four research analysts have rated the stock with a sell rating and nine have assigned 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.

Insider Activity

In related news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction on Monday, March 31st. The shares were 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 of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,923 shares of company stock worth $646,856. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Up 1.3%

Shares of T. Rowe Price Group stock traded up $1.23 during trading hours on Thursday, hitting $96.18. 1,108,505 shares of the company's stock traded hands, compared to its average volume of 1,517,418. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market cap of $21.19 billion, a PE ratio of 10.90, a PEG ratio of 3.09 and a beta of 1.49. The stock has a 50 day simple moving average of $92.63 and a 200-day simple moving average of $100.90.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share 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 firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm earned $2.38 EPS. T. Rowe Price Group's quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's payout ratio is currently 57.60%.

About T. Rowe Price Group

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.