Scientech Research LLC Takes $1.25 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Scientech Research LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,040 shares of the asset manager's stock, valued at approximately $1,249,000.

Several other large investors also recently modified their holdings of the business. Addison Advisors LLC increased its position in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd boosted its stake in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co increased its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after purchasing an additional 100 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was 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 in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several analyst reports. TD Cowen dropped their price target on shares of 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. Bank of America decreased their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Wells Fargo & Company cut 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. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Finally, The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $94.09.

T. Rowe Price Group Price Performance

NASDAQ TROW traded down $0.87 during trading on Tuesday, reaching $97.09. 929,212 shares of the company's stock were exchanged, compared to its average volume of 1,486,325. The business has a 50 day moving average price of $90.55 and a 200-day moving average price of $105.63. The stock has a market capitalization of $21.39 billion, a P/E ratio of 10.60, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the business earned $2.38 earnings per share. The firm's revenue for the quarter was up .8% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is 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.