Cerity Partners LLC Purchases 54,584 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cerity Partners LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 74.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,758 shares of the asset manager's stock after purchasing an additional 54,584 shares during the period. Cerity Partners LLC owned approximately 0.06% of T. Rowe Price Group worth $11,737,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TROW. Vanguard Group Inc. increased its position in shares of T. Rowe Price Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock worth $2,947,559,000 after acquiring an additional 135,203 shares in the last quarter. Fayez Sarofim & Co boosted its stake in 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 valued at $684,474,000 after purchasing an additional 425,142 shares during the last quarter. Geode Capital Management LLC increased its holdings in T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after purchasing an additional 116,231 shares in the last quarter. Invesco Ltd. increased its holdings in T. Rowe Price Group by 1.7% during the 4th quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock worth $271,169,000 after purchasing an additional 40,514 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of T. Rowe Price Group by 10.0% in the fourth quarter. Northern Trust Corp now owns 2,290,739 shares of the asset manager's stock valued at $259,060,000 after purchasing an additional 208,304 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares of the company's stock, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was 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 directly owned 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Trading Down 1.6%

Shares of NASDAQ TROW traded down $1.63 during mid-day trading on Tuesday, hitting $100.63. The company had a trading volume of 1,578,166 shares, compared to its average volume of 1,550,740. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock's 50-day moving average price is $95.65 and its 200-day moving average price is $98.98. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 3.10 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.10. The company 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 20.17% and a net margin of 28.38%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $2.38 earnings per share. As a group, equities research 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 business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $1.27 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.05%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

Analysts Set New Price Targets

TROW has been the subject of several recent research reports. Bank of America decreased their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company upped their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday. Barclays raised their price target on shares of 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. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Finally, Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $95.82.

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.