&Partners Grows Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

&Partners lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 25.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,277 shares of the asset manager’s stock after purchasing an additional 865 shares during the quarter. &Partners’ holdings in T. Rowe Price Group were worth $521,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TROW. Confluence Investment Management LLC bought a new position in shares of T. Rowe Price Group during the first quarter valued at approximately $130,386,000. International Assets Investment Management LLC raised its holdings in T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after purchasing an additional 892,198 shares in the last quarter. UBS Group AG boosted its stake in shares of T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after purchasing an additional 805,106 shares in the last quarter. Norges Bank bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $80,831,000. Finally, Hsbc Holdings PLC raised its stake in T. Rowe Price Group by 66.8% in the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after buying an additional 306,524 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Up 0.2 %

Shares of T. Rowe Price Group stock opened at $118.42 on Monday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76. The stock has a 50 day moving average of $114.41 and a 200 day moving average of $112.33. The firm has a market cap of $26.44 billion, a PE ratio of 14.06, a PEG ratio of 2.02 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $1.69 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.19%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI lowered their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $106.00 to $120.00 in a report on Thursday, April 11th. UBS Group raised their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Finally, TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.10.

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.