Hunter Associates Investment Management LLC Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hunter Associates Investment Management LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,959 shares of the asset manager’s stock after purchasing an additional 2,184 shares during the period. T. Rowe Price Group accounts for about 1.9% of Hunter Associates Investment Management LLC’s investment portfolio, making the stock its 8th largest holding. Hunter Associates Investment Management LLC’s holdings in T. Rowe Price Group were worth $10,447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in T. Rowe Price Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after purchasing an additional 625,340 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after buying an additional 134,839 shares in the last quarter. Morgan Stanley increased its holdings in shares of T. Rowe Price Group by 0.7% in the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock valued at $365,299,000 after buying an additional 25,012 shares in the last quarter. Northern Trust Corp increased its holdings in shares of T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after buying an additional 93,829 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of T. Rowe Price Group by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock valued at $238,167,000 after buying an additional 44,175 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.0 %

Shares of NASDAQ:TROW opened at $108.73 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The business has a fifty day simple moving average of $114.72 and a 200 day simple moving average of $106.78. The firm has a market cap of $24.32 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 2.04 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $1.74 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.56%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research reports. Morgan Stanley upped their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Wells Fargo & Company upped their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Finally, UBS Group boosted their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $112.67.

Read Our Latest Research Report on TROW

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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