T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,913 shares of the asset manager’s stock after purchasing an additional 2,457 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in T. Rowe Price Group were worth $1,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at about $27,000. Y.D. More Investments Ltd increased its stake in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $32,000. Finally, Advantage Trust Co boosted its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TROW. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Bank of America reduced their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Evercore ISI decreased their target price on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, April 11th. Barclays boosted their target price on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $94.09.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $93.24 on Friday. The stock’s 50-day simple moving average is $90.67 and its 200-day simple moving average is $103.65. The firm has a market capitalization of $20.54 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. T. Rowe Price Group’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 earnings per share. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.45%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s payout ratio is currently 57.60%.

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.