Grimes & Company Inc. Acquires 53,890 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Grimes & Company Inc. grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 43.2% during the first quarter, Holdings Channel reports. The firm owned 178,592 shares of the asset manager’s stock after purchasing an additional 53,890 shares during the period. Grimes & Company Inc.’s holdings in T. Rowe Price Group were worth $21,774,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TROW. Hennion & Walsh Asset Management Inc. raised its position in shares of T. Rowe Price Group by 34.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,436 shares of the asset manager’s stock valued at $1,272,000 after purchasing an additional 2,679 shares during the period. MCF Advisors LLC grew its stake in T. Rowe Price Group by 1.6% in the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after buying an additional 92 shares during the last quarter. Occidental Asset Management LLC raised its holdings in T. Rowe Price Group by 16.1% in the 1st quarter. Occidental Asset Management LLC now owns 24,745 shares of the asset manager’s stock worth $3,017,000 after acquiring an additional 3,438 shares during the period. Touchstone Capital Inc. lifted its position in T. Rowe Price Group by 29.9% during the 1st quarter. Touchstone Capital Inc. now owns 64,396 shares of the asset manager’s stock worth $7,851,000 after acquiring an additional 14,817 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in T. Rowe Price Group by 2.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 130,590 shares of the asset manager’s stock valued at $15,921,000 after acquiring an additional 2,623 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were 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 $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold a total of 6,444 shares of company stock valued at $740,408 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Down 0.1 %

T. Rowe Price Group stock traded down $0.12 on Friday, hitting $115.31. The company’s stock had a trading volume of 1,598,508 shares, compared to its average volume of 1,018,934. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The firm has a market cap of $25.75 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.97 and a beta of 1.43. The company has a fifty day moving average price of $114.98 and a 200-day moving average price of $112.85.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 earnings per share. Analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $1.24 per share. The ex-dividend date was Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.30%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group lifted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Citigroup lifted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Finally, Morgan Stanley upped their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $112.10.

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.