T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,813 shares of the asset manager’s stock after purchasing an additional 1,552 shares during the quarter. Van ECK Associates Corp’s holdings in T. Rowe Price Group were worth $4,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TROW. Creative Financial Designs Inc. ADV grew its stake in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the period. First United Bank & Trust acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $31,000. Park Place Capital Corp grew its stake in T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares during the period. Fortitude Family Office LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $33,000. Finally, CVA Family Office LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target 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. JPMorgan Chase & Co. lifted their price target 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. UBS Group lifted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Evercore ISI decreased their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Finally, Citigroup raised their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $112.10.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders have sold a total of 6,444 shares of company stock worth $740,408 in the last quarter. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $1.11 during trading on Friday, hitting $114.66. 383,508 shares of the company were exchanged, compared to its average volume of 1,326,848. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The company has a fifty day moving average price of $115.31 and a 200-day moving average price of $113.06. The firm has a market capitalization of $25.60 billion, a PE ratio of 13.59, a P/E/G ratio of 1.98 and a beta of 1.42.

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

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were issued 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 4.33%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

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.