Siemens Fonds Invest GmbH Has $5.81 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Siemens Fonds Invest GmbH boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,019.1% in the fourth quarter, Holdings Channel reports. The firm owned 51,378 shares of the asset manager’s stock after purchasing an additional 46,787 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in T. Rowe Price Group were worth $5,810,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. Addison Advisors LLC increased its holdings in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd increased its stake in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group during the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now directly owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Stock Up 0.3%

Shares of T. Rowe Price Group stock opened at $97.65 on Friday. The stock has a market cap of $21.51 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company’s fifty day moving average is $90.42 and its 200 day moving average is $105.89.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm posted $2.38 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.20%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 57.60%.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. Bank of America lowered their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Evercore ISI reduced their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $94.09.

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.