T. Rowe Price Group, Inc. (NASDAQ:TROW) is Kennondale Capital Management LLC's 6th Largest Position

Kennondale Capital Management LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 46.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,039 shares of the asset manager's stock after acquiring an additional 8,519 shares during the period. T. Rowe Price Group comprises 2.7% of Kennondale Capital Management LLC's investment portfolio, making the stock its 6th biggest position. Kennondale Capital Management LLC's holdings in T. Rowe Price Group were worth $2,484,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TROW. Windle Wealth LLC increased its holdings in T. Rowe Price Group by 4.7% during the 1st quarter. Windle Wealth LLC now owns 64,792 shares of the asset manager's stock worth $5,952,000 after purchasing an additional 2,932 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in T. Rowe Price Group by 4.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,144 shares of the asset manager's stock worth $1,575,000 after purchasing an additional 677 shares during the period. Transce3nd LLC increased its holdings in T. Rowe Price Group by 9.5% during the 1st quarter. Transce3nd LLC now owns 4,792 shares of the asset manager's stock worth $440,000 after purchasing an additional 415 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in T. Rowe Price Group by 74.1% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 19,905 shares of the asset manager's stock worth $1,829,000 after purchasing an additional 8,473 shares during the period. Finally, Midwest Professional Planners LTD. increased its holdings in T. Rowe Price Group by 1.8% during the 1st quarter. Midwest Professional Planners LTD. now owns 18,447 shares of the asset manager's stock worth $1,695,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the 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 sale, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the 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 sale, the insider directly owned 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on TROW. Morgan Stanley increased their price objective on T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $90.00 to $98.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Bank of America dropped their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. TD Cowen dropped their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup dropped 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. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $96.64.

T. Rowe Price Group Stock Up 0.2%

NASDAQ:TROW traded up $0.26 during mid-day trading on Thursday, reaching $107.61. 745,413 shares of the stock were exchanged, compared to its average volume of 1,833,571. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company has a 50 day simple moving average of $97.17 and a 200-day simple moving average of $98.76. The stock has a market capitalization of $23.71 billion, a P/E ratio of 12.20, a P/E/G ratio of 3.16 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping 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 company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same period last year, the firm earned $2.38 EPS. The firm's revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given 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 yield of 4.72%. T. Rowe Price Group's payout ratio is 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.