37,048 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 37,048 shares of the asset manager's stock, valued at approximately $3,404,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TROW. Norges Bank purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth $117,704,000. Marshall Wace LLP purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth approximately $63,284,000. Fayez Sarofim & Co raised its holdings in T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after acquiring an additional 425,142 shares in the last quarter. Amundi raised its holdings in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after acquiring an additional 397,278 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in T. Rowe Price Group by 28.2% in the fourth 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 acquiring an additional 387,604 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm's 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 sale, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the vice president now owns 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,923 shares of company stock worth $646,856. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Down 3.2%

Shares of NASDAQ TROW traded down $3.00 during midday trading on Friday, reaching $91.58. 1,195,694 shares of the company were exchanged, compared to its average volume of 1,509,876. The stock has a market cap of $20.18 billion, a P/E ratio of 10.00, a PEG ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock has a fifty day simple moving average of $91.66 and a 200 day simple moving average of $102.44.

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

T. Rowe Price Group Dividend Announcement

The company also recently announced 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 5.55%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TROW. Morgan Stanley raised 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 report on Tuesday, May 6th. Barclays raised their price target on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. TD Cowen lowered their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company lowered their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group 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.