T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Grimes & Company Inc.

Grimes & Company Inc. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 43.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 178,592 shares of the asset manager’s stock after acquiring an additional 53,890 shares during the period. Grimes & Company Inc. owned 0.08% of T. Rowe Price Group worth $21,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TROW. Confluence Investment Management LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $130,386,000. International Assets Investment Management LLC grew its stake 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 acquiring an additional 892,198 shares during the period. UBS Group AG grew its stake in T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after acquiring an additional 805,106 shares during the period. Norges Bank acquired a new position in T. Rowe Price Group in the 4th quarter valued at $80,831,000. Finally, Hsbc Holdings PLC lifted its stake in shares of T. Rowe Price Group by 66.8% during the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after purchasing an additional 306,524 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded down $0.12 during midday trading on Friday, hitting $115.31. 1,598,508 shares of the company’s stock traded hands, compared to its average volume of 1,018,934. The firm’s fifty day moving average price is $114.98 and its two-hundred day moving average price is $112.85. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The company has a market cap of $25.75 billion, a PE ratio of 13.69, a P/E/G ratio of 1.97 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $1.69 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 EPS 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. Shareholders of record on Friday, June 14th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TROW shares. UBS Group upped their target price on 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. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $112.10.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on 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 directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. Insiders sold a total of 6,444 shares of company stock worth $740,408 in the last 90 days. 2.00% of the stock is owned by company insiders.

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.