L. Roy Papp & Associates LLP Acquires 8,773 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

L. Roy Papp & Associates LLP boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,875 shares of the asset manager's stock after buying an additional 8,773 shares during the period. T. Rowe Price Group makes up about 2.1% of L. Roy Papp & Associates LLP's portfolio, making the stock its 16th biggest holding. L. Roy Papp & Associates LLP owned about 0.07% of T. Rowe Price Group worth $17,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Vanguard Group Inc. raised its position in T. Rowe Price Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager's stock valued at $3,051,553,000 after purchasing an additional 625,340 shares during the period. Charles Schwab Investment Management Inc. raised its position in T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager's stock valued at $513,874,000 after purchasing an additional 134,839 shares during the period. Morgan Stanley raised its position in T. Rowe Price Group by 0.7% during the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager's stock valued at $365,299,000 after purchasing an additional 25,012 shares during the period. Northern Trust Corp raised its position in T. Rowe Price Group by 4.1% during the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager's stock valued at $247,088,000 after purchasing an additional 93,829 shares during the period. Finally, Bank of New York Mellon Corp raised its position in T. Rowe Price Group by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager's stock valued at $238,167,000 after purchasing an additional 44,175 shares during the period. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the company an "underweight" rating in a research report on Friday, February 9th. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Friday, February 9th. UBS Group increased their price target on T. Rowe Price Group from $86.00 to $102.00 and gave the stock a "sell" rating in a report on Wednesday, January 10th. TD Cowen began coverage on T. Rowe Price Group in a report on Thursday, January 4th. They issued an "underperform" rating and a $88.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on T. Rowe Price Group from $101.00 to $106.00 and gave the stock an "equal weight" rating in a report on Friday, January 19th. Six analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $97.30.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company's stock, valued at $2,493,357.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company's stock, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Up 0.9 %

Shares of TROW stock traded up $1.06 on Friday, reaching $121.92. 1,419,184 shares of the stock were exchanged, compared to its average volume of 1,351,362. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The company has a market capitalization of $27.27 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.43 and a beta of 1.39. The business's 50 day moving average price is $112.98 and its 200 day moving average price is $105.83.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm posted $1.74 earnings per share. T. Rowe Price Group's revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 7.75 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.22. T. Rowe Price Group's dividend payout ratio is currently 63.92%.

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.