United Community Bank Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

United Community Bank increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.4% in the first quarter, HoldingsChannel.com reports. The fund owned 18,118 shares of the asset manager’s stock after buying an additional 3,898 shares during the period. United Community Bank’s holdings in T. Rowe Price Group were worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in T. Rowe Price Group during the 4th quarter worth about $117,704,000. Marshall Wace LLP acquired a new stake in T. Rowe Price Group during the 4th quarter worth about $63,284,000. Fayez Sarofim & Co grew its position in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after acquiring an additional 425,142 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of T. Rowe Price Group by 28.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock valued at $199,367,000 after acquiring an additional 387,604 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after acquiring an additional 329,761 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred 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 directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $101.47 on Monday. The stock has a market cap of $22.36 billion, a P/E ratio of 11.50, a P/E/G ratio of 3.10 and a beta of 1.49. The stock’s 50 day simple moving average is $95.44 and its 200-day simple moving average is $99.08. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year 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 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group’s payout ratio is 57.60%.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. Barclays raised their target price on T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. Citigroup lowered their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday. Evercore ISI lowered their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, April 11th. Finally, The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $95.82.

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.