T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Commerce Bank

Commerce Bank trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,347 shares of the asset manager’s stock after selling 3,893 shares during the period. Commerce Bank’s holdings in T. Rowe Price Group were worth $11,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV increased its stake in 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 buying an additional 106 shares during the period. First United Bank & Trust acquired a new position in shares of T. Rowe Price Group in the fourth quarter worth about $31,000. Park Place Capital Corp grew its stake in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth approximately $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction 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 transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on 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 approximately $4,061,070. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group 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 transaction, 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. Insiders have sold 6,444 shares of company stock worth $740,408 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TROW has been the topic of a number of research analyst reports. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods raised 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. Morgan Stanley increased their target price on 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. Citigroup lifted their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $113.00.

T. Rowe Price Group Trading Up 1.1 %

Shares of NASDAQ TROW traded up $1.27 during midday trading on Wednesday, reaching $115.74. The company’s stock had a trading volume of 212,949 shares, compared to its average volume of 1,314,135. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The company has a market cap of $25.84 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.96 and a beta of 1.42. The company has a 50 day moving average price of $115.48 and a 200 day moving average price of $113.30.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.69 EPS. 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. This represents a $4.96 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

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.