T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Claro Advisors LLC

Claro Advisors LLC grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 39.5% in the first quarter, Holdings Channel reports. The institutional investor owned 7,165 shares of the asset manager’s stock after buying an additional 2,029 shares during the period. Claro Advisors LLC’s holdings in T. Rowe Price Group were worth $874,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. L. Roy Papp & Associates LLP boosted its position in shares of T. Rowe Price Group by 5.8% during the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after purchasing an additional 8,773 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in T. Rowe Price Group by 15.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock valued at $37,141,000 after buying an additional 47,043 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after acquiring an additional 10,680 shares during the period. Vest Financial LLC grew its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after acquiring an additional 92,059 shares during the period. Finally, Nebula Research & Development LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth $807,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on 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 owns 34,635 shares of the company’s stock, valued at $3,916,525.80. 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 quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TROW shares. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Morgan Stanley upped their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price target for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. JPMorgan Chase & Co. boosted their price objective 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, Citigroup lifted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $112.10.

T. Rowe Price Group Stock Performance

TROW opened at $113.85 on Tuesday. The company has a market capitalization of $25.42 billion, a P/E ratio of 13.52, a PEG ratio of 1.97 and a beta of 1.42. The company has a 50-day moving average of $114.98 and a 200-day moving average of $112.92. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.71 billion. During the same period in the previous year, the company earned $1.69 earnings per share. T. Rowe Price Group’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

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.