RPG Investment Advisory LLC Has $6.74 Million Stake in T. Rowe Price Group Inc (TROW)

RPG Investment Advisory LLC cut its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,315 shares of the asset manager’s stock after selling 1,842 shares during the quarter. T. Rowe Price Group comprises approximately 1.6% of RPG Investment Advisory LLC’s portfolio, making the stock its 17th biggest position. RPG Investment Advisory LLC’s holdings in T. Rowe Price Group were worth $6,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of T. Rowe Price Group by 2.2% during the third quarter. Vanguard Group Inc. now owns 21,212,245 shares of the asset manager’s stock valued at $2,315,952,000 after buying an additional 457,683 shares during the last quarter. Vanguard Group Inc boosted its position in shares of T. Rowe Price Group by 2.2% during the third quarter. Vanguard Group Inc now owns 21,212,245 shares of the asset manager’s stock valued at $2,315,952,000 after buying an additional 457,683 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of T. Rowe Price Group by 5,160.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,804,712 shares of the asset manager’s stock valued at $63,000 after buying an additional 5,694,370 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of T. Rowe Price Group by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,439,749 shares of the asset manager’s stock valued at $317,047,000 after buying an additional 76,186 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of T. Rowe Price Group by 3.1% during the fourth quarter. Northern Trust Corp now owns 2,861,801 shares of the asset manager’s stock valued at $264,201,000 after buying an additional 86,061 shares during the last quarter. Hedge funds and other institutional investors own 72.65% of the company’s stock.

In other T. Rowe Price Group news, VP Christopher D. Alderson sold 104,465 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $96.94, for a total value of $10,126,837.10. Following the transaction, the vice president now directly owns 401,164 shares of the company’s stock, valued at $38,888,838.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward C. Bernard sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $97.15, for a total value of $971,500.00. Following the completion of the transaction, the insider now directly owns 651,532 shares in the company, valued at $63,296,333.80. The disclosure for this sale can be found here. Insiders sold 117,082 shares of company stock worth $11,361,948 over the last three months. Insiders own 3.10% of the company’s stock.

NASDAQ:TROW traded down $0.95 on Monday, hitting $104.95. The stock had a trading volume of 635,944 shares, compared to its average volume of 1,404,693. The stock has a market capitalization of $24.79 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.79 and a beta of 1.04. T. Rowe Price Group Inc has a 52-week low of $84.59 and a 52-week high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, January 30th. The asset manager reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.25). The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.33 billion. T. Rowe Price Group had a return on equity of 29.16% and a net margin of 33.95%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.52 earnings per share. As a group, equities analysts forecast that T. Rowe Price Group Inc will post 6.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 2.90%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 42.52%.

Several equities research analysts recently commented on the company. Citigroup increased their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research report on Wednesday, April 3rd. Bank of America set a $112.00 price objective on T. Rowe Price Group and gave the company a “buy” rating in a research report on Tuesday, April 9th. Jefferies Financial Group increased their price objective on T. Rowe Price Group from $103.00 to $119.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, BidaskClub raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $106.17.

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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.

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

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