T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Mutual Advisors LLC

Mutual Advisors LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 29.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,950 shares of the asset manager's stock after buying an additional 12,405 shares during the period. Mutual Advisors LLC's holdings in T. Rowe Price Group were worth $4,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TROW. Glenview Trust co raised its holdings in T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after buying an additional 92 shares during the period. Strategy Asset Managers LLC increased its position in shares of T. Rowe Price Group by 5.0% in the fourth quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock worth $258,000 after acquiring an additional 108 shares in the last quarter. Wealthcare Capital Partners LLC increased its position in shares of T. Rowe Price Group by 1.2% in the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after acquiring an additional 115 shares in the last quarter. Cullen Investment Group LTD. raised its stake in shares of T. Rowe Price Group by 0.9% in the 1st quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after acquiring an additional 117 shares during the period. Finally, Gen Wealth Partners Inc lifted its holdings in shares of T. Rowe Price Group by 3.1% during the 4th quarter. Gen Wealth Partners Inc now owns 4,651 shares of the asset manager's stock valued at $526,000 after acquiring an additional 139 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. TD Cowen lowered their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Barclays raised their target price on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Evercore ISI decreased 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. Finally, The Goldman Sachs Group reduced their target price 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. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of "Hold" and a consensus price target of $94.91.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Up 0.5%

Shares of T. Rowe Price Group stock opened at $100.41 on Friday. The business has a 50-day moving average price of $94.03 and a 200 day moving average price of $99.94. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $22.12 billion, a P/E ratio of 11.38, a P/E/G ratio of 3.24 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 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business earned $2.38 EPS. The business's quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $1.27 per share. The ex-dividend date was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.06%. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

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.

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