Rhumbline Advisers Acquires 16,693 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Rhumbline Advisers raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 453,740 shares of the asset manager's stock after purchasing an additional 16,693 shares during the period. Rhumbline Advisers owned approximately 0.21% of T. Rowe Price Group worth $41,685,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd boosted its holdings in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter valued at $32,000. Finally, Advantage Trust Co raised its position in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Activity at T. Rowe Price Group

In other news, 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 sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was 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 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 transaction, the insider now directly owns 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Down 0.6%

Shares of T. Rowe Price Group stock traded down $0.55 on Thursday, reaching $93.24. The stock had a trading volume of 1,235,099 shares, compared to its average volume of 1,498,029. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company has a market cap of $20.54 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The business's 50 day moving average is $90.64 and its two-hundred day moving average is $103.83.

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

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TROW. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Evercore ISI reduced 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. 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 on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group dropped their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $94.09.

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.