Bellecapital International Ltd. Purchases 3,195 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bellecapital International Ltd. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 26.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,246 shares of the asset manager's stock after acquiring an additional 3,195 shares during the period. Bellecapital International Ltd.'s holdings in T. Rowe Price Group were worth $1,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Amundi grew its stake in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after purchasing an additional 397,278 shares during the period. Schroder Investment Management Group grew its stake in shares of T. Rowe Price Group by 49.4% in the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after purchasing an additional 73,307 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of T. Rowe Price Group by 5.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock valued at $40,436,000 after purchasing an additional 20,062 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $9,590,000. Finally, GAMMA Investing LLC increased its position in shares of T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after purchasing an additional 329,761 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm'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 transaction, the vice president now directly owns 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,923 shares of company stock valued at $646,856. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent analyst reports. TD Cowen dropped their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley increased 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 report on Tuesday, May 6th. Bank of America dropped their target price on shares of 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. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Finally, Evercore ISI dropped their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $94.09.

T. Rowe Price Group Stock Performance

TROW traded down $3.00 during midday trading on Friday, hitting $91.58. The company had a trading volume of 1,195,694 shares, compared to its average volume of 1,509,876. The company has a market capitalization of $20.18 billion, a PE ratio of 10.00, a P/E/G ratio of 2.86 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 firm's 50-day simple moving average is $91.66 and its 200-day simple moving average is $102.44.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results 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 for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.38 EPS. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 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.