HighPoint Advisor Group LLC Purchases New Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

HighPoint Advisor Group LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 6,044 shares of the asset manager’s stock, valued at approximately $715,000.

Other large investors have also recently bought and sold shares of the company. UBS Group AG increased its position in T. Rowe Price Group by 21.5% in the third quarter. UBS Group AG now owns 170,120 shares of the asset manager’s stock worth $17,840,000 after purchasing an additional 30,046 shares during the period. Prudential PLC boosted its stake in shares of T. Rowe Price Group by 12.3% in the 3rd quarter. Prudential PLC now owns 12,066 shares of the asset manager’s stock valued at $1,265,000 after purchasing an additional 1,324 shares during the last quarter. Korea Investment CORP grew its position in shares of T. Rowe Price Group by 6.0% during the 3rd quarter. Korea Investment CORP now owns 86,892 shares of the asset manager’s stock worth $9,112,000 after buying an additional 4,917 shares during the period. QRG Capital Management Inc. bought a new stake in shares of T. Rowe Price Group during the third quarter worth approximately $537,000. Finally, Envestnet Asset Management Inc. lifted its holdings in T. Rowe Price Group by 10.0% in the third quarter. Envestnet Asset Management Inc. now owns 136,550 shares of the asset manager’s stock valued at $14,320,000 after buying an additional 12,463 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TROW. Citigroup lifted their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Evercore ISI decreased their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $117.57 on Wednesday. The firm’s 50 day moving average price is $114.32 and its two-hundred day moving average price is $111.96. The firm has a market cap of $26.25 billion, a P/E ratio of 13.96, a PEG ratio of 2.00 and a beta of 1.43. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $1.69 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.