Congress Asset Management Co. MA Acquires 12,870 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Congress Asset Management Co. MA raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 138,202 shares of the asset manager’s stock after buying an additional 12,870 shares during the quarter. Congress Asset Management Co. MA owned about 0.06% of T. Rowe Price Group worth $16,850,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Affirmative Financial Network bought a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $213,000. RFG Advisory LLC raised its holdings in shares of T. Rowe Price Group by 17.9% during the 1st quarter. RFG Advisory LLC now owns 19,079 shares of the asset manager’s stock worth $2,326,000 after buying an additional 2,895 shares in the last quarter. Eldred Rock Partners LLC grew its holdings in shares of T. Rowe Price Group by 1.3% during the 1st quarter. Eldred Rock Partners LLC now owns 63,480 shares of the asset manager’s stock valued at $7,739,000 after purchasing an additional 799 shares during the last quarter. Partnership Wealth Management LLC boosted its holdings in shares of T. Rowe Price Group by 463.8% during the 1st quarter. Partnership Wealth Management LLC now owns 17,365 shares of the asset manager’s stock valued at $2,117,000 after acquiring an additional 14,285 shares in the last quarter. Finally, Legacy Financial Strategies LLC boosted its position in T. Rowe Price Group by 12.4% during the 1st quarter. Legacy Financial Strategies LLC now owns 21,831 shares of the asset manager’s stock worth $2,662,000 after buying an additional 2,412 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

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

T. Rowe Price Group Stock Up 0.2 %

Shares of TROW stock opened at $118.42 on Friday. The company has a 50 day moving average price of $114.41 and a 200-day moving average price of $112.24. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The firm has a market capitalization of $26.44 billion, a PE ratio of 14.06, a P/E/G ratio of 2.02 and a beta of 1.43.

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

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TROW shares. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. UBS Group boosted their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price objective for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $112.10.

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.