T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by First Merchants Corp

First Merchants Corp lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 28.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,859 shares of the asset manager's stock after selling 4,278 shares during the quarter. First Merchants Corp's holdings in T. Rowe Price Group were worth $998,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Glenview Trust co grew its stake in T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after acquiring an additional 92 shares during the period. Strategy Asset Managers LLC boosted its stake in T. Rowe Price Group by 5.0% during the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager's stock worth $258,000 after purchasing an additional 108 shares during the last quarter. Wealthcare Capital Partners LLC boosted its stake in T. Rowe Price Group by 1.2% during the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after purchasing an additional 115 shares during the last quarter. Cullen Investment Group LTD. boosted its stake in T. Rowe Price Group by 0.9% during the 1st quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock worth $1,245,000 after purchasing an additional 117 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in T. Rowe Price Group by 3.2% during the 4th quarter. IFP Advisors Inc now owns 3,792 shares of the asset manager's stock worth $429,000 after purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 0.1%

Shares of TROW stock opened at $96.10 on Friday. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 3.12 and a beta of 1.49. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company's 50-day moving average price is $93.03 and its 200-day moving average price is $100.53.

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

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $1.27 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.29%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

Analysts Set New Price Targets

TROW has been the topic of several recent research reports. Bank of America lowered their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. lowered their target price on shares of 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. Evercore ISI lowered their target price 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 note on Friday, April 11th. Wells Fargo & Company lowered their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $94.09.

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 dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now owns 13,611 shares in the company, valued at $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. In the last ninety days, insiders have sold 6,923 shares of company stock worth $646,856. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group 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.

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