T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,415 shares of the asset manager’s stock after purchasing an additional 465 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in T. Rowe Price Group were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Glenview Trust co lifted its stake in T. Rowe Price Group by 2.2% during the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock valued at $488,000 after purchasing an additional 92 shares during the last quarter. Addison Advisors LLC lifted its position 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 acquiring an additional 93 shares in the last quarter. Advantage Trust Co lifted its position in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of T. Rowe Price Group by 3.5% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,996 shares of the asset manager’s stock valued at $339,000 after acquiring an additional 102 shares in the last quarter. Finally, Strategy Asset Managers LLC lifted its position in shares of T. Rowe Price Group by 5.0% in the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager’s stock valued at $258,000 after acquiring an additional 108 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 1.8%

Shares of TROW opened at $93.21 on Tuesday. The company’s fifty day moving average is $91.91 and its 200-day moving average is $102.07. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a market cap of $20.54 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business posted $2.38 EPS. T. Rowe Price Group’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.45%. T. Rowe Price Group’s payout ratio is presently 57.60%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president now directly owns 44,789 shares of the company’s stock, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider now directly owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,923 shares of company stock worth $646,856. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on TROW shares. Cowen restated a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. TD Cowen reduced their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $94.09.

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.