MOKAN Wealth Management Inc. Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

MOKAN Wealth Management Inc. lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 266.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,563 shares of the asset manager's stock after buying an additional 13,500 shares during the quarter. MOKAN Wealth Management Inc.'s holdings in T. Rowe Price Group were worth $1,705,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after purchasing an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock worth $812,798,000 after buying an additional 346,369 shares during the last quarter. Fayez Sarofim & Co grew its position 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 valued at $684,474,000 after acquiring an additional 425,142 shares during the period. Geode Capital Management LLC lifted its position in T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after purchasing an additional 116,231 shares in the last quarter. Finally, Invesco Ltd. increased its position in T. Rowe Price Group by 1.7% in the fourth quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock worth $271,169,000 after buying an additional 40,514 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.2%

Shares of TROW stock traded down $0.15 on Wednesday, reaching $94.95. 1,077,305 shares of the company's stock were exchanged, compared to its average volume of 1,516,196. The company's fifty day simple moving average is $92.44 and its 200 day simple moving average is $100.94. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market capitalization of $20.92 billion, a PE ratio of 10.77, a P/E/G ratio of 3.05 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share 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 the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $2.38 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.35%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Evercore ISI cut their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. 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. Barclays upped their target price 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. Finally, Bank of America dropped their price target on 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. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $94.09.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated 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 in the company, valued at $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president now owns 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,923 shares of company stock valued at $646,856. 1.60% of the stock is currently owned by company insiders.

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.