Baker Ellis Asset Management LLC Takes $207,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Baker Ellis Asset Management LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,700 shares of the asset manager’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TROW. Confluence Investment Management LLC purchased a new stake in shares of T. Rowe Price Group in the 1st quarter valued at $130,386,000. International Assets Investment Management LLC raised its holdings in shares of T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after buying an additional 892,198 shares during the period. UBS Group AG raised its holdings in shares of T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after buying an additional 805,106 shares during the period. Norges Bank purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $80,831,000. Finally, Hsbc Holdings PLC raised its holdings in shares of T. Rowe Price Group by 66.8% in the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after buying an additional 306,524 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated 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 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, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders sold a total of 6,444 shares of company stock valued at $740,408 in the last three months. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

TROW opened at $115.31 on Friday. The company has a market cap of $25.75 billion, a P/E ratio of 13.69, a PEG ratio of 1.97 and a beta of 1.43. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The business’s 50-day simple moving average is $114.98 and its 200-day simple moving average is $112.85.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 EPS. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.30%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group boosted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Morgan Stanley upped their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Citigroup upped their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $112.10.

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.