Capital World Investors Boosts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Capital World Investors lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 923,730 shares of the asset manager’s stock after purchasing an additional 1,401 shares during the quarter. Capital World Investors owned about 0.41% of T. Rowe Price Group worth $112,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First United Bank & Trust purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $31,000. Park Place Capital Corp grew its stake in shares of T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $39,000. Signature Resources Capital Management LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth about $39,000. Finally, Scarborough Advisors LLC purchased a new position in T. Rowe Price Group during the 4th quarter valued at about $47,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of 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 filing with the SEC, which is available through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. Insiders sold a total of 6,444 shares of company stock valued at $740,408 over the last ninety days. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 3.0 %

Shares of TROW stock traded down $3.41 on Friday, reaching $112.08. 1,972,652 shares of the stock were exchanged, compared to its average volume of 900,273. The business’s 50 day moving average price is $116.47 and its 200 day moving average price is $114.04. The company has a market capitalization of $25.03 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.68 and a beta of 1.42. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.01. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the company earned $2.02 earnings per share. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.43%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 10th. UBS Group boosted their price target on shares of 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. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $120.00 to $121.00 and gave the stock a “market perform” rating in a research note on Friday, July 12th. Finally, Citigroup boosted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.50.

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.