ST Germain D J Co. Inc. Buys 2,852 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

ST Germain D J Co. Inc. grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,216 shares of the asset manager's stock after purchasing an additional 2,852 shares during the period. ST Germain D J Co. Inc.'s holdings in T. Rowe Price Group were worth $3,143,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $117,704,000. Marshall Wace LLP bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $63,284,000. Fayez Sarofim & Co grew its holdings in shares of T. Rowe Price Group by 7.6% during 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 in the last quarter. Amundi increased its position in shares of T. Rowe Price Group by 30.1% in the fourth 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 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 valued at $199,367,000 after purchasing an additional 387,604 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the business'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 transaction 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 approximately $3,935,157.24. The trade was a 8.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group 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 transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This 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 corporate insiders.

T. Rowe Price Group Stock Down 0.6%

NASDAQ TROW traded down $0.55 on Thursday, hitting $93.24. The company's stock had a trading volume of 1,228,432 shares, compared to its average volume of 1,498,025. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company's 50-day moving average is $90.64 and its 200 day moving average is $103.83. The firm has a market cap of $20.54 billion, a PE ratio of 10.18, a PEG ratio of 2.86 and a beta of 1.49.

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, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the prior year, the firm posted $2.38 earnings per share. The business's quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

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 given a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.45%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup reduced their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Evercore ISI reduced their price target on shares of 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. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Finally, TD Cowen dropped 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. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and a consensus price target of $94.09.

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.