Brown Advisory Inc. Has $140.67 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brown Advisory Inc. cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,531,178 shares of the asset manager's stock after selling 7,630 shares during the quarter. Brown Advisory Inc. owned about 0.69% of T. Rowe Price Group worth $140,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Proficio Capital Partners LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth about $5,589,000. Raymond James Financial Inc. bought a new stake in T. Rowe Price Group in the fourth quarter worth about $32,332,000. Callan Family Office LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth about $252,000. Ashton Thomas Private Wealth LLC raised its position in T. Rowe Price Group by 9.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 7,995 shares of the asset manager's stock worth $904,000 after acquiring an additional 709 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in T. Rowe Price Group by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,975 shares of the asset manager's stock worth $496,000 after acquiring an additional 275 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% 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.

Wall Street Analyst Weigh In

Several research firms have issued reports on TROW. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Citigroup cut their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Morgan Stanley lifted their target price on T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. TD Cowen lowered their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays lifted their target price 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. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $94.91.

T. Rowe Price Group Price Performance

TROW traded up $0.84 on Tuesday, hitting $99.74. The company had a trading volume of 1,052,946 shares, compared to its average volume of 1,532,991. The company's fifty day moving average price is $94.47 and its 200 day moving average price is $99.51. 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 market cap of $21.97 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 3.21 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted 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. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company earned $2.38 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders 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 5.09%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

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.