Curbstone Financial Management Corp Grows Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Curbstone Financial Management Corp grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,500 shares of the asset manager’s stock after purchasing an additional 400 shares during the quarter. Curbstone Financial Management Corp’s holdings in T. Rowe Price Group were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TROW. Vanguard Group Inc. increased its holdings in T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after acquiring an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares in the last quarter. Fayez Sarofim & Co increased its holdings in T. Rowe Price Group by 7.6% in the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after acquiring an additional 425,142 shares in the last quarter. Geode Capital Management LLC increased its holdings in T. Rowe Price Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after acquiring an additional 116,231 shares in the last quarter. Finally, Provident Trust Co. increased its holdings in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after acquiring an additional 213,566 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $95.10 on Thursday. The firm has a fifty day moving average price of $91.17 and a 200 day moving average price of $103.01. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $20.95 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm posted $2.38 earnings per share. T. Rowe Price Group’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 57.60%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. TD Cowen reduced their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Citigroup cut their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Bank of America reduced their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday, April 11th. Finally, The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $94.09.

Insider Activity at T. Rowe Price Group

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

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.